Replies to post #123 on Nabors Industries LTD. (NBR)

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Zacks Reiterates Neutral on Nabors Industries (NBR)

Posted by Patrick Bannon on Jun 26th, 2012

http://www.dailypolitical.com/finance/stock-market/zacks-reiterates-neutral-on-nabors-industries-nbr.htm

Nabors Industries (NYSE: NBR)‘s stock had its “neutral” rating restated by Zacks in a report issued on Tuesday. They currently have a $13.00 target price on the stock.

Zacks‘ analyst wrote, “In the near-to-intermediate term, Nabors Industries is poised to benefit from strength in the U.S. and Canadian land drilling markets, which will more than offset the delays in the Gulf of Mexico. With leading positions in most natural gas and oil-based shale plays, we expect the company to benefit from higher activity and pricing. The Superior Well’ acquisition has further enhanced Nabors’ earnings visibility by expanding its pressure pumping capabilities and geographic foothold. However, we remain concerned about weak natural gas fundamentals, which are likely to limit the company’s ability to generate positive earnings surprises. Nabors’ fairly debt-heavy balance sheet also remains an issue. As such, we see the stock performing in line with the broader market and continue to rate it as Neutral.”

Shares of Nabors Industries traded down 0.16% during mid-day trading on Tuesday, hitting $12.79. Nabors Industries has a 52 week low of $11.05 and a 52 week high of $27.63. The company has a market cap of $3.713 billion and a P/E ratio of 12.71.

NBR has been the subject of a number of other recent research reports.

Analysts at BMO Capital Markets cut their price target on shares of Nabors Industries from $25.00 to $23.00 in a research note to investors on Friday, June 15th. They now have an “outperform” rating on the stock.

Separately, analysts at Guggenheim upgraded shares of Nabors Industries from a “neutral” rating to a “buy” rating in a research note to investors on Monday, May 21st. They now have a $22.00 price target on the stock. They noted that the move was a valuation call.

Finally, analysts at UBS AG reiterated a “neutral” rating on shares of Nabors Industries in a research note to investors on Thursday, April 26th.

Nabors Industries Ltd. (Nabors) is a land drilling contractor and a land well-servicing and workover contractor in the United States and Canada.