Piper Sandler lowered the firm’s price target on Patterson-UTI to $17 from $19 and keeps an Overweight rating on the shares. While the international/offshore cycle is still very healthy, the firm believes expectations should orient around a 10%-15% CAGR over the next few years vs some market expectations that believed this could be 15%-20%.
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Read More on PTEN:
- Patterson-UTI price target lowered to $18 from $19 at Stifel
- Unusually active option classes on open December 20th
- Patterson-UTI initiated with a Neutral at Goldman Sachs
- Patterson-UTI upgraded to Outperform from Sector Perform at ATB Capital
- Patterson-UTI price target lowered to $16 from $18 at Barclays