Close

Jefferies Upgrades Patterson-UTI Energy (PTEN) to Buy

July 11, 2016 6:46 AM EDT
Get Alerts PTEN Hot Sheet
Price: $12.05 --0%

Rating Summary:
    21 Buy, 16 Hold, 6 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 9 | Down: 7 | New: 10
Join SI Premium – FREE

Jefferies upgraded Patterson-UTI Energy (NASDAQ: PTEN) from Hold to Buy with a price target of $25.00 (from $19.00).

Analyst Brad Handler commented, "We believe PTEN is positioned to benefit from increased hydraulic fracturing demand expected over the next several years; we assume its pumping division revenues and EBITDA are 15% and 45% higher in 2020 than the peak quarterly run-rate of the prior cycle, respectively, on a combination of higher horsepower (i.e. more equipment) and per-job profitability."

For an analyst ratings summary and ratings history on Patterson-UTI Energy click here. For more ratings news on Patterson-UTI Energy click here.

Shares of Patterson-UTI Energy closed at $21.09 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst PT Change, Upgrades

Related Entities

Jefferies & Co