Nabors Industries downgraded at Bernstein As noted earlier, Bernstein downgraded Nabors to Market Perform from Outperform. The firm believes that investors' optimism towards North American oil services stocks has peaked, as it sees risks to continued improvement by the sector in 2015 and believes that stocks in the sector appear fairly valued.
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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."