CIBC Increases Precision Drilling Co. (PD) Price Target to C$11.00
Precision Drilling Co. (TSE:PD) (NYSE:PDS) had its price target hoisted by CIBC from C$8.00 to C$11.00 in a report issued on Thursday. CIBC’s price target would suggest a potential upside of 175.00% from the company’s current price.
A number of other analysts have also commented on PD. Canaccord Genuity dropped their price target on Precision Drilling from C$6.50 to C$4.75 in a report on Tuesday, July 11th. Raymond James Financial, Inc. reiterated a “market perform” rating and set a C$7.40 price target on shares of Precision Drilling in a report on Tuesday, April 25th. BMO Capital Markets reiterated an “outperform” rating and set a C$9.00 price target on shares of Precision Drilling in a report on Tuesday, April 25th. Finally, Scotiabank reiterated a “sector perform” rating and set a C$8.00 price target on shares of Precision Drilling in a report on Tuesday, April 25th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of C$8.50.
Shares of Precision Drilling (TSE:PD) traded down 3.50% during midday trading on Thursday, hitting $3.86. The stock had a trading volume of 347,899 shares. The firm’s market cap is $1.13 billion. Precision Drilling has a 52 week low of $3.66 and a 52 week high of $8.21. The company’s 50 day moving average is $4.32 and its 200 day moving average is $5.88.
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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.
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