TD Securities raises its price target on Precision Drilling Corp. (PD.TO) to $77 from $71 on Thursday.
Analyst Aaron MacNeil maintained a Hold rating on shares of the Canadian drilling rig contractor following its Q2 results.
"PD is employing a growth-oriented strategy that aims to capitalize on greenshoots in US gas basins at a time of heightened broader macro uncertainty," MacNeil said in a note to clients.
Our increased $77 price target reflects higher margins and market share assumptions in our DCF, partially offset by higher near-term growth capital," the analyst said.
"Commodity price strength/weakness will determine the success of this strategy in our view."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。