RBC Capital Initiates Coverage on Independence Contract Drilling (ICD)
Research analysts at RBC Capital assumed coverage on shares of Independence Contract Drilling (NYSE:ICD) in a report released on Tuesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $13.00 price target on the stock. RBC Capital’s price objective would indicate a potential upside of 13.04% from the stock’s previous close.
Shares of Independence Contract Drilling (NYSE:ICD) traded up 3.39% during mid-day trading on Tuesday, hitting $11.89. 566,435 shares of the company’s stock traded hands. Independence Contract Drilling has a 52-week low of $10.61 and a 52-week high of $11.61. The stock’s 50-day moving average is $11.12 and its 200-day moving average is $11.12. The company’s market cap is $266.3 million.
Separately, analysts at Cowen and Company initiated coverage on shares of Independence Contract Drilling in a research note on Tuesday. They set an “outperform” rating and a $14.00 price target on the stock.
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