Jesup & Lamont Upgrades Nabors Industries (NBR) to Hold; Raises FY09 Estimates
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Jesup & Lamont upgrades Nabors Industries (NYSE: NBR) from Sell to Hold.
Jesup analyst says, "We are upgrading our rating to HOLD based on the company outlook. We are raising our earnings estimates for 2009 to $1.30 per share from $1.20 per share and raising our 2010 estimates to $0.80 from $0.65 per share. Although we have raised our estimates and the company believes the bottom for the domestic market has been seen, we believe investors should look for a pullback n the stock to below $20 per share before considering this investment. We believe the 29x 2010 earnings estimate is a little steep after the recent run-up."
To see more analyst ratings on NBR Click Here.
Nabors Industries Ltd. operates as a land drilling contractor worldwide.
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