Nabors Industries price target raised to $29 from $25 at RBC Capital RBC Capital increased its price target on Nabors as the firm is upbeat on the outlook for U.S. land drillers and thinks the group has exceptionally good fundamental momentum. The firm expects the company to provide good 2014 guidance and keeps an Outperform rating on the shares.
News For NBR From The Last 14 Days
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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."