Goldman Sachs Starts Patterson-UTI Energy (PTEN) at Buy
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Price: $11.37 +4.31%
Rating Summary:
21 Buy, 15 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
21 Buy, 15 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Goldman Sachs initiates coverage on Patterson-UTI Energy (NASDAQ: PTEN) with a Buy. PT $29.00.
The firm notes that the market is pricing the stock as though the US land rig and pressure pumping businesses are about to fall sharply. The firm does not see this happening, and instead sees US land rig count to increase by 9% and forecast a robust 2012 for pressure pumping.
For an analyst ratings summary and ratings history on Patterson-UTI Energy click here. For more ratings news on Patterson-UTI Energy click here.
Shares of Patterson-UTI Energy closed at $20.95 yesterday.
The firm notes that the market is pricing the stock as though the US land rig and pressure pumping businesses are about to fall sharply. The firm does not see this happening, and instead sees US land rig count to increase by 9% and forecast a robust 2012 for pressure pumping.
For an analyst ratings summary and ratings history on Patterson-UTI Energy click here. For more ratings news on Patterson-UTI Energy click here.
Shares of Patterson-UTI Energy closed at $20.95 yesterday.
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