NexTier Oilfield downgraded to Underperform at BofA on outlook concerns

As previously reported, BofA analyst Chase Mulvehill downgraded NexTier Oilfield to Underperform from Neutral with a price target of $8.50, down from $10. Looking at Q2 and the potential outlooks for companies in the oilfield services space, the firm is "growing concerned" that guidance for U.S. onshore companies could disappoint and/or suggest softening of U.S. activity and pricing and it does "not think the market will respond kindly to these outlooks," the analyst tells investors