Jefferies Remains Sidelined on Nabors Industries (NBR) Following 2Q
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Jefferies reiterated a Hold rating on Nabors Industries (NYSE: NBR), and raised the price target to $10.00 (from $9.00), following the company's 2Q earnings report.
Analyst Brad Handler commented, "We believe NBR's international platform should yield healthy return opportunities over the long term and that NBR is well positioned competitively. We have more concern about NBR's NAM exposure as we see high capital intensity requirements to be competitive in what is looming as a commoditized AC market. High debt also weighs on valuation. Tweak PT up to $10; maintain Hold."
Shares of Nabors closed at $9.26 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
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