Global Hunter Securities Upgrades Nabors (NBR) to Buy; Tough to Own,
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Price: $91.27 -0.53%
Rating Summary:
11 Buy, 18 Hold, 10 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 13 | New: 20
Rating Summary:
11 Buy, 18 Hold, 10 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 13 | New: 20
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Global Hunter Securities upgraded Nabors (NYSE: NBR) from Accumulate to Buy.
Global analyst says, "We are upgrading NBR to Buy,believing last week's sell-off created an enticing entry-point for investors. Poor execution from SWSI and its International business has deterred some investors, but with the cat out of the bag we expect it to outperform peers heading into earnings in late-July. Additionally, at just 4.4x our 2012 EBITDA estimate and a 54% discount to our sum-of-parts valuation, which gives zero value to its E&P assets, the stock is attractive on a valuation standpoint."
"We are revising our 2011 and 2012 EBIT and EPS estimates, largely to reflect the issues with SWSI and its International business. Our revised 2011 EBIT and EPS is $877MM and $1.45, down from $981MM and $1.74. Our new new 2012 EBIT and EPS estimates are $1,353MM and $2.60, down from $1,417MM and $2.77."
For more ratings news on Nabors click here and for the rating history of Nabors click here.
Shares of Nabors closed at $23.04 yesterday.
Global analyst says, "We are upgrading NBR to Buy,believing last week's sell-off created an enticing entry-point for investors. Poor execution from SWSI and its International business has deterred some investors, but with the cat out of the bag we expect it to outperform peers heading into earnings in late-July. Additionally, at just 4.4x our 2012 EBITDA estimate and a 54% discount to our sum-of-parts valuation, which gives zero value to its E&P assets, the stock is attractive on a valuation standpoint."
"We are revising our 2011 and 2012 EBIT and EPS estimates, largely to reflect the issues with SWSI and its International business. Our revised 2011 EBIT and EPS is $877MM and $1.45, down from $981MM and $1.74. Our new new 2012 EBIT and EPS estimates are $1,353MM and $2.60, down from $1,417MM and $2.77."
For more ratings news on Nabors click here and for the rating history of Nabors click here.
Shares of Nabors closed at $23.04 yesterday.
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