Alliance Global Partners lowered the firm’s price target on Drilling Tools (DTI) to $5.50 from $7.50 and keeps a Buy rating on the shares. Drilling Tools reported “a bit of a disappointing quarter” as Q3 results missed the firm’s estimates and the company cut guidance again given that industry activity levels continue to negatively impact results, the analyst tells investors. While the firm cut estimates to reflect these dynamics, it adds that it is “optimistic about the long-term upside.”
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Read More on DTI:
- Drilling Tools International Corp. Reports Q3 2024 Results
- Drilling Tools International Highlights Investor Outlook Risks
- Drilling Tools cuts FY24 revenue view to $145M-$155M from $155M-$170M
- Correction: Drilling Tools cuts FY24 revenue view to $145M-$155M
- Drilling Tools reports Q3 adjusted EPS 14c vs. 15c last year
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