Susquehanna lowered the firm’s price target on Nabors Industries (NBR) to $77 from $79 and keeps a Neutral rating on the shares. The firm updated its estimates and lowered them on the US drilling outlook. The estimates do not include the expected acquisition of Parker Wellbore and primarily reflect continued softness in US drilling activity.
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Read More on NBR:
- Nabors Industries sees FY24 adjusted free cash flow $100M-$130M
- Nabors Industries reports Q3 EPS ($6.86) with charges, consensus ($2.20)
- Nabors Industries sees FY24 CapEx approximately $600M
- NBR Upcoming Earnings Report: What to Expect?
- Nabors Industries price target lowered to $88 from $110 at Barclays
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