Canaccord Genuity Raises Precision Drilling (PD) Price Target to C$4.75

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price lifted by Canaccord Genuity from C$4.50 to C$4.75 in a note issued to investors on Tuesday. Canaccord Genuity’s price objective indicates a potential upside of 8.45% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Raymond James Financial lowered their price objective on shares of 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 lowered their price objective on shares of Precision Drilling from C$4.25 to C$4.00 in a research report on Friday, November 17th. CIBC lowered their price objective on shares of Precision Drilling from C$8.00 to C$7.00 in a research report on Friday, October 20th. Deutsche Bank restated a “hold” rating and issued a C$4.00 price objective on shares of Precision Drilling in a research report on Tuesday, October 10th. Finally, GMP Securities upped their price objective on shares of Precision Drilling from C$5.75 to C$6.50 in a research report on Thursday, January 18th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Precision Drilling presently has a consensus rating of “Buy” and an average target price of C$5.88.

Shares of Precision Drilling (PD) traded up C$0.10 during trading on Tuesday, hitting C$4.38. 3,205,356 shares of the company’s stock traded hands, compared to its average volume of 3,601,982. The company has a market cap of $1,260.00, a PE ratio of -11.28 and a beta of 1.49. Precision Drilling has a 52 week low of C$2.89 and a 52 week high of C$7.69.

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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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