Deutsche Bank Upgrades Nabors (NBR) to Buy, Sees 100% Upside

November 28, 2012 7:35 AM EST Send to a Friend
Get Alerts NBR Hot Sheet
Price: $12.68 +0.56%

Rating Summary:
    15 Buy, 15 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 7 | Down: 23 | New: 27
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Deutsche Bank upgraded Nabors (NYSE: NBR) from Hold to Buy with a price target of $28.00 (from $22.00).

The firm comments, "We are upgrading NBR to a BUY from a HOLD given our new framework which outlined our more constructive view on natural gas both in the near and longer term. NBR will face continued North American headwinds that will impact their US Land and pressure pumping businesses in the short term. We continue to believe that North American activity levels are bottoming, and NBR’s mix of drilling, workover, and pressure pumping assets stand to benefit from new E&P budgets in 2013. In addition, NBR has the added benefit of a large international business and continued restructuring initiatives and asset sales."

For an analyst ratings summary and ratings history on Nabors click here. For more ratings news on Nabors click here.

Shares of Nabors closed at $13.80 yesterday.

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