Jefferies Remains Sidelined on Nabors Industries (NBR) Following 2Q

August 8, 2016 8:01 AM EDT
Get Alerts NBR Hot Sheet
Price: $13.05 -0.53%

Rating Summary:
    22 Buy, 16 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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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."

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 $9.26 yesterday.

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