Precision Drilling’s (PD) “Underperform” Rating Reiterated at Scotiabank

Scotiabank restated their underperform rating on shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) in a research note published on Friday morning. The brokerage currently has a C$7.50 target price on the stock.

PD has been the topic of several other reports. Royal Bank Of Canada reaffirmed an outperform rating and set a C$8.00 price objective on shares of Precision Drilling in a research report on Monday, October 24th. TD Securities lifted their price objective on Precision Drilling from C$7.00 to C$8.00 in a research report on Monday, October 24th. Canaccord Genuity lifted their price objective on Precision Drilling from C$6.75 to C$7.25 and gave the company a hold rating in a research report on Monday, October 24th. Deutsche Bank AG lifted their price objective on Precision Drilling from C$5.00 to C$6.00 and gave the company a hold rating in a research report on Tuesday, October 25th. Finally, Citigroup Inc. assumed coverage on Precision Drilling in a research report on Wednesday, December 14th. They set a neutral rating and a C$8.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of C$8.60.

Analyst Recommendations for Precision Drilling (TSE:PD)

Shares of Precision Drilling (TSE:PD) opened at 7.41 on Friday. The stock has a 50 day moving average price of $7.46 and a 200 day moving average price of $6.39. Precision Drilling has a 52 week low of $3.75 and a 52 week high of $8.21. The stock’s market capitalization is $2.17 billion.

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Precision Drilling Company Profile

Precision Drilling Corporation (Precision) provides contract drilling, and completion and production services primarily to oil and natural gas exploration and production companies in Canada, the United States and certain international locations. It operates through two segments: Contract Drilling Services, and Completion and Production Services.

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