UBS Maintains a 'Neutral' on Nabors (NBR); New CEO Starts Strong Out of The Gate
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Price: $79.09 +4.07%
Rating Summary:
11 Buy, 17 Hold, 10 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
Rating Summary:
11 Buy, 17 Hold, 10 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
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UBS maintains a 'Neutral' on Nabors (NYSE: NBR) price target raised from $18 to $24.
UBS analyst says, "Takeaways from the conference call...1) New CEO lays out rough strategic plan: a) monetize E&P assets, b) review ancillary businesses to determine if offer attractive returns and growth potential, c) capital discipline; 2) reduce debt-to-cap to 25% from 42% today; 3) 25 more US land rigs to deploy in 2012; seeing some modest dayrate weakness in gas basins, 4) NBR’s will not add frac capacity beyond current plans, and believes increases in operating efficiencies will mitigate frac price softness/oversupply in 2012, 5) international segment should improve steadily in 2012, after Q1 bottom."
FY12 EPS estimate raised from $2.24 to $2.34 and FY13 from $2.48 to $2.75.
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 $21.78 yesterday.
UBS analyst says, "Takeaways from the conference call...1) New CEO lays out rough strategic plan: a) monetize E&P assets, b) review ancillary businesses to determine if offer attractive returns and growth potential, c) capital discipline; 2) reduce debt-to-cap to 25% from 42% today; 3) 25 more US land rigs to deploy in 2012; seeing some modest dayrate weakness in gas basins, 4) NBR’s will not add frac capacity beyond current plans, and believes increases in operating efficiencies will mitigate frac price softness/oversupply in 2012, 5) international segment should improve steadily in 2012, after Q1 bottom."
FY12 EPS estimate raised from $2.24 to $2.34 and FY13 from $2.48 to $2.75.
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 $21.78 yesterday.
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