TD Securities Downgrades Precision Drilling (PD) to Buy
TD Securities cut shares of Precision Drilling (TSE:PD) (NYSE:PDS) from an action list buy rating to a buy rating in a report issued on Wednesday morning. The firm currently has C$7.50 price objective on the stock, up from their previous price objective of C$7.00.
Several other research firms have also recently issued reports on PD. Canaccord Genuity increased their target price on Precision Drilling from C$5.00 to C$5.25 in a research report on Tuesday, July 10th. Raymond James increased their price target on Precision Drilling from C$5.75 to C$7.25 and gave the company a strong-buy rating in a research note on Tuesday, July 10th. Finally, Cormark increased their price target on Precision Drilling from C$5.50 to C$6.00 in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Precision Drilling presently has a consensus rating of Buy and a consensus target price of C$5.86.
Shares of PD opened at C$4.63 on Wednesday. Precision Drilling has a 52 week low of C$2.89 and a 52 week high of C$5.33.
Precision Drilling Company Profile
Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.
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