C&J Energy downgraded to Equal Weight at Stephens As previously reported, Stephens downgraded C&J Energy to Equal Weight from Overweight following its acquisition of Nabor's (NBR) Completion & Production businesses, citing potential integration risk and its lower leverage to the Eagle Ford and Permian areas. The firm lowered its price target on C&J shares to $33 from $36.
News For CJES;NBR From The Last 14 Days
Check below for free stories on CJES;NBR the last two weeks.
Nabors Industries optimistic about the growth prospects for venture Company concluded, "It is becoming increasingly apparent that virtually every element of our business is experiencing improving fundamentals manifested through improving utilization and pricing. Construction of the numerous new rigs we have in progress remains on track and within budget. The contribution of these deployments combined with a favorable pricing environment across every market and the incremental demand for new rigs globally yield a high degree of growth visibility for the foreseeable future. We are particularly optimistic about the growth prospects for our venture with C&J in the Completion & Production Services business."