FBR Capital Adjusts Estimates and PT on Nabors (NBR); Timing of Upturn Remains Elusive

FBR Capital maintains a 'Market Perform' on Nabors (NYSE: NBR), PT increased from $30 to $36.

FBR analyst says, "Following the company's 1Q11 earnings release, we maintain our rating on Nabors within the context of our bullish industry outlook. While we believe the stock will yield decent returns for investors, we believe there are other oil service stocks in our coverage universe with more upside potential."

"We are simultaneously lowering our 2011 EPS estimate to $1.65 from $1.85 on pressure pumping weakness and are raising our 2012 EPS estimate to $2.50 from $2.20 on increased international expectations."

For more ratings news on Nabors click here and for the rating history of Nabors click here.

Shares of Nabors closed at $30.29 yesterday.

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