Piper Sandler lowered the firm’s price target on Precision Drilling to $100 from $107 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 PDS:
- Precision Drilling provides capital allocation framework update
- Precision Drilling Meets 2023 Debt Repayment and Share Repurchase Targets and Provides Capital Allocation, Financial and Operational Updates
- Precision Drilling Corporation 2023 Fourth Quarter and Year-End Results Conference Call and Webcast
- Precision Drilling downgraded to Sector Perform from Outperform at National Bank
- Precision Drilling resumed with an Outperform at Evercore ISI
