UBS Maintains a 'Neutral' on Nabors (NBR); New CEO Starts Strong Out of The Gate
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Price: $16.56 +4.15%
Rating Summary:
10 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Rating Summary:
10 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Trade NBR Now!
UBS maintains a 'Neutral' on Nabors (NYSE: NBR) price target raised from $18 to $24.
UBS analyst says, "Takeaways from the conference call...1) New CEO lays out rough strategic plan: a) monetize E&P assets, b) review ancillary businesses to determine if offer attractive returns and growth potential, c) capital discipline; 2) reduce debt-to-cap to 25% from 42% today; 3) 25 more US land rigs to deploy in 2012; seeing some modest dayrate weakness in gas basins, 4) NBR’s will not add frac capacity beyond current plans, and believes increases in operating efficiencies will mitigate frac price softness/oversupply in 2012, 5) international segment should improve steadily in 2012, after Q1 bottom."
FY12 EPS estimate raised from $2.24 to $2.34 and FY13 from $2.48 to $2.75.
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 $21.78 yesterday, with a 52 week range of $11.05-$32.47.
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UBS analyst says, "Takeaways from the conference call...1) New CEO lays out rough strategic plan: a) monetize E&P assets, b) review ancillary businesses to determine if offer attractive returns and growth potential, c) capital discipline; 2) reduce debt-to-cap to 25% from 42% today; 3) 25 more US land rigs to deploy in 2012; seeing some modest dayrate weakness in gas basins, 4) NBR’s will not add frac capacity beyond current plans, and believes increases in operating efficiencies will mitigate frac price softness/oversupply in 2012, 5) international segment should improve steadily in 2012, after Q1 bottom."
FY12 EPS estimate raised from $2.24 to $2.34 and FY13 from $2.48 to $2.75.
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 $21.78 yesterday, with a 52 week range of $11.05-$32.47.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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