Susquehanna analyst Charles Minervino lowered the firm’s price target on Patterson-UTI to $24 from $26 and keeps a Positive rating on the shares. The analyst said the company heads into 2023 with a healthy fundamental backdrop, though comments about a more tempered improvement in rig count and some weather disruptions affecting pressure pumping in 1Q23 caused us to modestly lower estimates for 2023.
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Published first on TheFly
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