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UPDATE: Jefferies Downgrades Precision Drilling to Hold

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Jefferies reduced its rating on Precision Drilling (NYSE: PDS) from Buy to Hold and lowered its price target from $10 to $8.50.

Jefferies noted, "U.S. land drilling is incrementally more attractive post 3Q12 on generally in line drilling performance and evidence of some mix benefits. We wait for somewhat better visibility for US activity in 2013 before getting constructive with more stocks, but see attractive optionality for patient investors. Having said that, we downgrade PDS to Hold from Buy on a softer Canada in 2013."

Precision Drilling closed at $7.57 on Monday.

Latest Ratings for PDS

DateFirmActionFromTo
Jul 2014JefferiesMaintainsBuy
Jun 2014Clarkson CapitalInitiates Coverage onOutperform
Apr 2014BMO CapitalMaintainsOutperform

View More Analyst Ratings for PDS
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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