Precision Drilling upgraded to Buy from Hold at Canaccord

Canaccord analyst John Bereznicki upgraded Precision Drilling to Buy from Hold with a price target of C$90, down from C$100. The analyst sees value in the name following the stock’s 35% year-to-date pullback. The firm believes a slowdown has largely been priced into oilfield service equities. The recent bank failures overshadow the "constructive: Chinese demand backdrop, the analyst tells investors in a research note.