UPDATE: Global Hunter Securities Downgrades Nabors (NBR) to Neutral, Slower Activity
Tweet Send to a FriendGet Alerts NBR Hot Sheet
Price: $16.67 --0%
Rating Summary:
10 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 31 | New: 11
Rating Summary:
10 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 31 | New: 11
Trade NBR Now!
(Updated - September 25, 2012 8:43 AM EDT)
Global Hunter Securities downgraded Nabors (NYSE: NBR) from Accumulate to Neutral with a price target of $16.00 (from $17.00).
The firm comments, "Activity across most business lines is tracking below our prior forecast and is unlikely to meet such expectations in the out quarters given the current fundamental headwinds impacting its product lines and geomarkets. Additionally, we do not foresee much in terms of M&A or external factors to move the stock higher by year end. Lacking identifiable catalysts and with consensus estimates likely too high (~18% vs. our 2013 EPS estimate), much like its peer group, we are headed for the sidelines."
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 $15.08 yesterday, with a 52 week range of $11.05-$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
Global Hunter Securities downgraded Nabors (NYSE: NBR) from Accumulate to Neutral with a price target of $16.00 (from $17.00).
The firm comments, "Activity across most business lines is tracking below our prior forecast and is unlikely to meet such expectations in the out quarters given the current fundamental headwinds impacting its product lines and geomarkets. Additionally, we do not foresee much in terms of M&A or external factors to move the stock higher by year end. Lacking identifiable catalysts and with consensus estimates likely too high (~18% vs. our 2013 EPS estimate), much like its peer group, we are headed for the sidelines."
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 $15.08 yesterday, with a 52 week range of $11.05-$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
- Goldman Sachs Downgrades Thoratec (THOR) to Neutral
- DA Davidson Downgrades Applied Materials (AMAT) to Neutral
- Goldman Sachs Upgrades WNS (Holdings) (WNS) to Buy
Create E-mail Alert Related Categories
Analyst PT Change, Downgrades
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!
