Standpoint Research Upgrades Parker Drilling (PKD) to Buy

Standpoint Research upgraded Parker Drilling (NYSE: PKD) from Hold to Buy with a $7.25 price target.

The firm states, "Parker Drilling is a name we have gone in-and-out of twice since 2009. We closed out the position with a 150% gain on May 6, 2009,
and then closed it out a second time on March 30, 2011 with a 34% gain. The stock has dropped by nearly 30% since our downgrade in late March and can be reinstated. This recommendation is most suited for those who are underweight energy and materials and/or with a low beta portfolio and are looking to trim those defensive bets on market weakness as we are doing here --"

For more ratings news on Parker Drilling click here and for the rating history of Parker Drilling click here.

Shares of Parker Drilling closed at $5.70 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Evercore ISI Upgrades Duolingo Inc. (DUOL) to Outperform
• Piper Sandler Upgrades Tempus AI Inc (TEM) to Overweight
• JPMorgan Upgrades Postal Savings Bank of China Co., Ltd (1658:HK) (PSBKF) to Overweight