The Globe and Mail reports in its Friday, March 20, edition that Raymond James analyst Andrew Bradford is reducing his rating on Essential Energy Services ($1.03) to "outperform" from "strong buy." The Globe's David Kennedy writes in the Eye On Equities column that the analyst also lowered his price target by 35 cents to $1.40. Analysts on average target the shares at $1.83. Mr. Bradford believes Essential Energy Services will be "bracing for a tough ride through 2015." He figures the company's well-servicing business will be hit the hardest this cycle, with Canadian well servicing down 22 per cent in January. The James analyst expects the lower activity to translate to a 42-per-cent reduction in Essential Energy's service rig revenue against 2014. Though the company's stock is down 24 per cent so far this year, Mr. Bradford thinks Essential Energy's cost saving efforts should result in $10-million in annual savings. TD Securities analyst Scott Treadwell cut his rating on Essential Energy to "hold" from "buy" in the Eye column on May 8, 2014. The shares were then worth $2.55. Mr. Treadwell hiked his rating back to "buy" in the Eye column on Aug. 8, 2014, when Essential shares could be had for $2.46.