UPDATE: Barclays Starts Nabors (NBR) at Overweight

(updated to add analyst comment)

Barclays analyst J. David Anderson initiates coverage on Nabors (NYSE: NBR) with a Overweight rating and a price target of $3.50.

The analyst comments "Overshadowed by credit issues, Nabors has made impressive operational strides, closing the earnings gap with HP and PTEN through a combination of rig upgrades and customer alignment. Forecast to generate $231mm in FCF in 2020, credit risk has been reduced."

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 $2.09 yesterday.

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