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Stock Market & Financial Investment News

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February 12, 2013
07:50 EDTPTENPatterson-UTI Energy valuation range raised to $22-$24 from $15-$17 at Wells Fargo
Wells Fargo increased its valuation range on Patterson-UTI Energy as the firm expects the company to benefit from higher margins, six new Tier 1 deliveries this year, and greater demand for pressure pumps. The firm, however, maintains a Sector Perform rating on the stock.
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September 1, 2015
10:05 EDTPTENOn The Fly: Analyst Downgrade Summary
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07:15 EDTPTENPatterson-UTI downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Patterson-UTI to Market Perform and cut its rating on the Land Drilling sector to Market Weight from Overweight. The firm believes weakness in the global oil market is likely to persist into 2016 and lowered its price target range for shares to $15-$19 from $22.50-$25.

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