Freedom Broker Downgrades Precision Drilling (PDS) to Hold

Freedom Broker analyst Sergey Pigarev downgraded Precision Drilling (NYSE: PDS) from Buy to Hold with a price target of $121.00 (from $116.00).

The analyst comments "Precision Drilling delivered mixed results in Q3'26. Revenue beat consensus on higher North American utilization and stronger U.S. pricing, while adjusted EPS came in slightly below expectations due to rig reactivation costs, which we view as positioning for higher activity. A higher FY2026 capital budget supports a pending rig upgrade that would extend revenue visibility through 2029, and share repurchases accelerated sharply. These factors underpin our higher valuation; however, after the recent share price appreciation, the remaining upside is limited. We raise our price target to $121 from $116 and downgrade our recommendation to Hold."

For an analyst ratings summary and ratings history on Precision Drilling click here. For more ratings news on Precision Drilling click here.

Shares of Precision Drilling closed at $107.68 yesterday.

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