UBS Maintains a 'Neutral' on Nabors (NBR); Asset Monetization Moving Forward, But Headwinds Still Present
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Price: $80.65 +6.12%
Rating Summary:
11 Buy, 17 Hold, 10 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
11 Buy, 17 Hold, 10 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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UBS maintains a 'Neutral' on Nabors (NYSE: NBR) price target raised $1 to $17.
Analyst, Angie Sedita, said, "NBR is making progress in their strategic reorganization, closing additional asset sales of $91 mil this qtr (Colombian E&P assets and U.S. rig moving operations). NBR also plans to complete sales of other non-core assets / oil E&P assets that could amount to $525-$725 mil before year-end. Although the company is taking the right steps, it will take time to execute and some of the assets (offshore rigs) will likely be difficult to sell. Additionally, we expect headwinds to continue over the next few quarters for both the U.S. land and pressure pumping business."
UBS raised FY12 EPS estimate from $2.11 to $2.24, but lowers FY13 from $2.64 to $2.58.
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 $16.96 yesterday.
Analyst, Angie Sedita, said, "NBR is making progress in their strategic reorganization, closing additional asset sales of $91 mil this qtr (Colombian E&P assets and U.S. rig moving operations). NBR also plans to complete sales of other non-core assets / oil E&P assets that could amount to $525-$725 mil before year-end. Although the company is taking the right steps, it will take time to execute and some of the assets (offshore rigs) will likely be difficult to sell. Additionally, we expect headwinds to continue over the next few quarters for both the U.S. land and pressure pumping business."
UBS raised FY12 EPS estimate from $2.11 to $2.24, but lowers FY13 from $2.64 to $2.58.
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 $16.96 yesterday.
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