RBC Capital analyst Keith Mackey lowered the firm’s price target on Nabors Industries to $176 from $195 and keeps a Sector Perform rating on the shares after its Q1 results. The company’s International and NDS businesses are differentiated relative to most peers, but the firm is neutral on the stock based on its above-average financial leverage and softening near-term US rig activity, the analyst tells investors in a research note.
Published first on TheFly
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