Goldman Sachs Upgrades Nabors (NBR) to Conviction Buy
Tweet Send to a FriendGet Alerts NBR Hot Sheet
Price: $16.62 -0.78%
Rating Summary:
10 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
10 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade NBR Now!
Goldman Sachs upgraded Nabors (NYSE: NBR) from Neutral to Conviction Buy with a price target of $23.00 (from $17.00), suggesting 40% upside.
Goldman sees a number of catalysts to narrow the valuation gap, including: "(1) Inflecting NAM rig activity leading to multiple expansion as in prior cycles; (2) margin inflection, as NBR is significantly under-earning with 4Q12E margins below mid-2009 levels; no other peer is that low; (3) cash release to shareholders from high FCF and stock underperformance; (4) corporate restructuring; and (5) around 15%+ IRR on our LBO screen."
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 $17.16 yesterday, with a 52 week range of $12.40-$22.73.
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
Goldman sees a number of catalysts to narrow the valuation gap, including: "(1) Inflecting NAM rig activity leading to multiple expansion as in prior cycles; (2) margin inflection, as NBR is significantly under-earning with 4Q12E margins below mid-2009 levels; no other peer is that low; (3) cash release to shareholders from high FCF and stock underperformance; (4) corporate restructuring; and (5) around 15%+ IRR on our LBO screen."
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 $17.16 yesterday, with a 52 week range of $12.40-$22.73.
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
You May Also Be Interested In
- UPDATE: A.G. Lafley Gives Procter & Gamble (PG) Investors 'New Hope', UBS Upgrades to Buy
- Wedbush Downgrades salesforce.com (CRM) to Neutral
- Janney Capital Trims Numbers on Buckle (BKE), Margins Peaking
Create E-mail Alert Related Categories
Analyst PT Change, Hot Upgrades, UpgradesRelated Entities
Goldman Sachs Conviction Buy List, Goldman Sachs
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
