Market Overview

UPDATE: Credit Suisse Upgrades Nabors Industries on Strong International Execution

Related NBR
#PreMarket Primer: Wednesday, July 23: Documents Show Deutsche Bank Knew Of Reporting Problems
Earnings Scheduled For July 22, 2014
Energy Stocks Move Higher as Oil Spikes (Fox Business)

In a report published Tuesday, Credit Suisse analyst James Wicklund upgraded the rating on Nabors Industries (NYSE: NBR) from Underperform to Neutral, and raised the price target from $12.00 to $22.00.

In the report, Credit Suisse noted, “We are upgrading NBR based on strong International execution, especially in key markets like Saudi Arabia. This should continue to contribute to EPS growth throughout 2014. NBR is also expected to announce a restructuring at the conclusion of its ‘strategic review,' lending additional optimism. At this point, the catalysts are well understood by the market and are currently reflected in the valuation. Our TP goes to $22 and we increase 2014 EPS on strong international growth.”

Nabors Industries closed on Monday at $22.56.

Posted-In: Credit Suisse James WicklundAnalyst Color Upgrades Analyst Ratings


Most Popular

Related Articles (NBR)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free