Nabors Industries price target lowered to $120 from $140 at Barclays

Barclays lowered the firm’s price target on Nabors Industries to $120 from $140 and keeps an Equal Weight rating on the shares. The shares have been weighed down by a downward revision to 2023 free cash flow and a softer lower 48 guide resulting in Q4 estimates below consensus, the analyst tells investors in a research note.