Precision Drilling Co. (TSE:PD) Given New C$11.00 Price Target at CIBC
Precision Drilling Co. (TSE:PD) (NYSE:PDS) had its price target lifted by equities research analysts at CIBC from C$8.00 to C$11.00 in a research note issued on Thursday, StockTargetPrices.com reports. CIBC’s target price would suggest a potential upside of 163.79% from the company’s current price.
Other analysts have also recently issued research reports about the stock. Canaccord Genuity reduced their price objective on shares of Precision Drilling from C$6.50 to C$4.75 in a research note on Tuesday, July 11th. Raymond James Financial, Inc. reissued a “market perform” rating and issued a C$7.40 price objective on shares of Precision Drilling in a research note on Tuesday, April 25th. BMO Capital Markets reissued an “outperform” rating and issued a C$9.00 price objective on shares of Precision Drilling in a research note on Tuesday, April 25th. Finally, Scotiabank reissued a “sector perform” rating and issued a C$8.00 price objective on shares of Precision Drilling in a research note on Tuesday, April 25th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Precision Drilling currently has a consensus rating of “Buy” and an average price target of C$8.50.
Shares of Precision Drilling (TSE:PD) traded down 4.08% on Thursday, reaching $4.00. The company’s stock had a trading volume of 1,362,029 shares. The company’s market cap is $1.17 billion. Precision Drilling has a 52-week low of $3.66 and a 52-week high of $8.21. The firm has a 50 day moving average of $4.35 and a 200 day moving average of $5.89.
About Precision Drilling
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.
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