Nabors Industries Ltd. (NYSE:NBR)share target prices have been reviewed by most of the brokerage firms that trade its shares.
According to a report from the AnalystRatingsNetwork.com, analysts from Argus lowered their target price on the company’s shares from $20 to $15. The research note report was available to investors on Monday. Argus currently has a “buy” rating on the stock. The current projections speculate a potential rise by as much as 52.75% from the firm’s current price.
A few other brokers have revealed some information about Nabors Industries. JPMorgan Chase & Co. (NYSE:JPM) started covering the company’s shares on May 19. They placed an “overweight” rating and set the price target for the shares at $21.00. CLSA changed the company’s rating from an “outperform” rating to an “underperform” rating. CLSA also raised the estimated stock price from $13.00 to $16.00. Citigroup Inc (NYSE:C) started covering Nabors Industries on July 16 with a “neutral” rating and a projected $14.00 stock price.
The company’s shares traded at $10.26 during Monday’s opening. They reached a high of $10.31 and a low of $9.74 for the day and closed at $9.82. Analysts estimate the shares to range from $8 to $22 over the next year. The average price target for the 12-month period is $15.187. The one-year consensus is based on the numbers provided by 16 brokerage firms and compiled by Zacks.
Zacks Recommendations are usually simplified to provide easier understanding. Zacks stock estimates are usually based on a 1 to 5 scale where 1 represents strong buy and 5 represents strong sell. The current rating for Nabors Industries is 1.95 based on the projections from the 16 brokerage firms.
Nabors Industries Ltd. (NYSE:NBR) is a well-servicing and land drilling contractor. The company has a large portfolio of operational sites with the major ones in Canada, Alaska and US. The firm has 474 land oil and gas rigs in different regions including Alaska, US and others. It also has 442 rigs for well-servicing.