Scotiabank Increases Precision Drilling (PD) Price Target to C$4.75

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price lifted by analysts at Scotiabank from C$4.50 to C$4.75 in a report issued on Friday. The brokerage presently has an “underperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 10.47% from the company’s current price.

Several other research firms also recently weighed in on PD. Raymond James Financial dropped their target price on Precision Drilling from C$5.75 to C$5.50 and set a “strong-buy” rating for the company in a research report on Tuesday, December 5th. Citigroup dropped their target price on Precision Drilling from C$4.25 to C$4.00 in a research report on Friday, November 17th. CIBC dropped their target price on Precision Drilling from C$8.00 to C$7.00 in a research report on Friday, October 20th. Canaccord Genuity dropped their target price on Precision Drilling from C$4.25 to C$3.75 in a research report on Monday, October 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a C$6.00 target price on shares of Precision Drilling in a research report on Monday, October 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of C$5.58.

Shares of Precision Drilling (TSE:PD) opened at C$4.30 on Friday. The stock has a market cap of $1,250.00, a PE ratio of -9.56 and a beta of 1.49. Precision Drilling has a fifty-two week low of C$2.89 and a fifty-two week high of C$7.15.

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Precision Drilling Company Profile

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.

Analyst Recommendations for Precision Drilling (TSE:PD)

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