RBC Capital Markets raised its price target on Precision Drilling Corp. (PD.TO, PDS) to $117 from $110.

Analyst Keith Mackey maintained an Outperform rating on shares of the Canadian drilling rig contractor.

"PD's 3Q25 results were largely as expected," Mackey said in a note to clients.

"The most noteworthy point was its $20 Million capital spending increase for upgrades to five additional rigs, including two moves to Canada, reflecting continued tightness in rig availability," the analyst said.

"We see room for multiple expansion from current levels as PD's balance sheet improves, US visibility increases, and its Internationally diversified business provides growth optionality."

(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)