Loading...
Loading...
In a report published Friday, Jefferies analyst Brad Handler upgraded the rating on
Precision DrillingPDS from Hold to Buy, and reiterated the $11.00 price target.
In the report, Jefferies noted, “We believe recent pullback in PDS shares presents an attractive buying opportunity. The decline (before yesterday) likely reflects deflating Canadian LNG-driven expectations (amount and timing) to more realistic levels. Meanwhile, U.S. drilling share gains impress and we have confidence in International drilling and U.S. C&P traction. We expect next week's '14 capex announcement includes additional newbuild awards. Maintain $11 PT; upgrade to BUY rating.”
Precision Drilling closed on Thursday at $8.75.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in