Raymond James Financial Raises Precision Drilling (PD) Price Target to C$5.75

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target raised by Raymond James Financial from C$5.50 to C$5.75 in a note issued to investors on Tuesday. The brokerage presently has a “strong-buy” rating on the stock. Raymond James Financial’s target price would indicate a potential upside of 40.93% from the stock’s previous close.

Several other research analysts have also weighed in on PD. Citigroup reduced their target price on Precision Drilling from C$4.25 to C$4.00 in a report on Friday, November 17th. CIBC reduced their target price on Precision Drilling from C$8.00 to C$7.00 in a report on Friday, October 20th. Canaccord Genuity reduced their target price on Precision Drilling from C$4.25 to C$3.75 in a report on Monday, October 30th. BMO Capital Markets restated an “outperform” rating and issued a C$6.00 price target on shares of Precision Drilling in a report on Monday, October 30th. Finally, GMP Securities boosted their price target on Precision Drilling from C$5.75 to C$6.50 in a report on Thursday, January 18th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Precision Drilling has a consensus rating of “Buy” and a consensus target price of C$5.90.

Precision Drilling (TSE PD) traded down C$0.10 during midday trading on Tuesday, hitting C$4.08. The stock had a trading volume of 2,031,782 shares, compared to its average volume of 3,661,077. Precision Drilling has a one year low of C$2.89 and a one year high of C$7.48. The firm has a market cap of $1,210.00, a PE ratio of -10.49 and a beta of 1.49.

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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.

Analyst Recommendations for Precision Drilling (TSE:PD)

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