Precision Drilling price target raised to $107 from $90 at Piper Sandler

Piper Sandler analyst Luke Lemoine raised the firm’s price target on Precision Drilling to $107 from $90 and keeps an Overweight rating on the shares. The analyst says that while the international/offshore theme in oil servic is “very much intact,” the takeaway from last week is that U.S. land is in the process of bottoming, and Q4 could see a pickup in activity.