Nabors Industries downgraded to Underperform from Hold at Jefferies Jefferies downgraded Nabors Industries to Underperform citing potential downside risk to the company's dayrates and pumping in 2013. The firm lowered its price target for shares to $13 from $15.
Jefferies sees relative value in Nabors Industries Jefferies analyst Brad Handler believes shares of Nabors Industries (NBR) can outperform Patterson-UTI (PTEN) over the near term and Helmerich & Payne (HP) over the longer term. His analysis suggests Nabors likely avoids covenant breach and has adequate liquidity to weather the downturn. Handler keeps a Hold rating on Nabors, however, with a reduced price target of $7.