Precision Drilling Corporation (PDS) : Analyst Rating Update

Precision Drilling Corporation (PDS) : 3 brokerage houses believe that Precision Drilling Corporation (PDS) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 6 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Precision Drilling Corporation (PDS). Zacks Investment Research suggests a Buy with a rank of 2. 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 11 Wall Street Analysts endorse the stock as a Buy with a rating of 2.45.

Precision Drilling Corporation (PDS) stock is expected to deviate a maximum of $1.45 from the average target price of $4.96 for the short term period. 11 Street Experts have initiated coverage on the stock with the most promising target being $7 and the most muted being $3.

Precision Drilling Corporation (NYSE:PDS): The stock opened at $5.12 on Wednesday but the bulls could not build on the opening and the stock topped out at $5.23 for the day. The stock traded down to $5.08 during the day, due to lack of any buying support eventually closed down at $5.18 with a loss of -0.19% for the day. The stock had closed at $5.19 on the previous day. The total traded volume was 1,043,678 shares.

Also, Major Brokerage house, Credit Suisse downgrades its ratings on Precision Drilling Corporation (NYSE:PDS). According to the latest information available, the shares are now rated Underperform by the analysts at the agency. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on June 1, 2016. The company shares have dropped -10.21% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $6.08 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $4.97 and the 200 Day Moving Average price is recorded at $4.17.

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides contract drilling, well servicing and strategic support services to customers. It provides customers with access to a fleet of contract drilling rigs, directional drilling services, well service and snubbing rigs, coiled tubing services, camps, rental equipment, and water treatment units backed by a mix of technical support services. The Company provides the equipment, personnel and support services, which enables drill, complete and workover onshore wells for conventional and unconventional crude oil and natural gas exploration and production. The Companys service lines include Drilling Rigs (Canada), Drilling Rigs (United States), Drilling Rigs (International), Directional Drilling (Canada and United States), Rig Builds and Repair Turnkey Drilling Services, Oilfield Supplies (Canada and United States) and Oilfield Equipment Rentals, among others.

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