In This Article:
RBC Capital lowered the firm’s price target on Nabors Industries (NBR) to $75 from $102 and keeps a Sector Perform rating on the shares after its Q4 results. The company’s EBITDA was in line with expectations, but the Q1 guidance implies an 8% sequential reduction, and while the firm continues to view Nabors’ International and Nabors Drilling Solutions businesses as differentiated from peers, it remains neutral on the stock given above-average financial leverage and lower near-term free cash flow visibility, the analyst tells investors in a research note.
Discover the Best Stocks and Maximize Your Portfolio:
-
See what stocks are receiving strong buy ratings from top-rated analysts.
-
Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on NBR: