Citi Upgrades Patterson-UTI Energy (PTEN) to Buy

Citi upgraded Patterson-UTI Energy (NASDAQ: PTEN) from Neutral to Buy with a price target of $19.00 (from $21.00).

Analyst Scott Gruber expects value investors to become increasingly more attracted ot the name. The analyst comments that if sentiment toward SMID OFS improves the company should benefit and should sentiment deteriorate he sees risks to others name like Keane Group (NYSE: FRAC).

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 $15.69 yesterday.

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