Basic Energy (BAS; $26.01--May 19; Accumulate; PT: N/A)Moonshot YTD stock price move (+65%) justified in hindsight as low valuationentering 2014 (market worried about #'s being too high) followed by strong overall / Permian activity push and ~20% upward '14 EBITDA revisions. Still a bull market stock due to operational and financial leverage but valuation very reasonable (<6x '14 EBITDA, <5x '15). Look for the company to continue to feed this bull market persona, both......
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