Analyst Rating Update on Nabors Industries Ltd. (NBR)

Nabors Industries Ltd. (NBR) : 12 brokerage houses believe that Nabors Industries Ltd. (NBR) is a Strong Buy at current levels. 2 Analyst considers the fundamentals to be worthy of a Buy recommendation. 4 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Nabors Industries Ltd. (NBR). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 19 Wall Street Analysts endorse the stock as a Buy with a rating of 1.68.

Nabors Industries Ltd. (NBR) : 15 Wall Street analysts covering Nabors Industries Ltd. (NBR) believe that the average level the stock could reach for the short term is $12.55. The maximum price target given is $19 and the minimum target for short term is around $7, hence the standard deviation is calculated at $2.82.

For the current week, the company shares have a recommendation consensus of Buy. Also, Stephens & Co. upgrades its rating on Nabors Industries Ltd. (NYSE:NBR). Analysts at the Stephens & Co. have a current rating of Overweight on the shares. The shares were previously rated Equal-weight. The rating by the firm was issued on July 12, 2016.


Nabors Industries Ltd. (NYSE:NBR): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $8.69 and $8.48 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $9.08. The buying momentum continued till the end and the stock did not give up its gains. It closed at $9.07, notching a gain of 4.37% for the day. The total traded volume was 11,386,067 . The stock had closed at $8.69 on the previous day.

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company provides of offshore platform work over and drilling rigs. Its business is conducted through two business lines: Drilling & Rig Services and Completion & Production Services. It provides drilling technology and equipment and well-site services, including engineering, transportation and disposal, construction, maintenance, well logging, directional drilling, rig instrumentation, data collection and other support services. It manufactures and leases or sells top drives and other rig equipment. Its Drilling & Rig Services business line consists of four operating segments: U.S., Canada, International and Rig Services. Its Completion & Production Services business line consists of its operations involved in the completion, life-of-well maintenance and plugging and abandonment of a well and consists of two operating segments: Completion Services and Production Services.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.