CIBC Boosts Precision Drilling (TSE:PD) Price Target to C$110.00

Key Points

• CIBC has raised its target price for Precision Drilling from C$100.00 to C$110.00, indicating a potential upside of 41.88% from the current stock price.
• Precision Drilling's stock currently has a consensus rating of "Moderate Buy" with an average target price of C$98.71, reflecting a mix of analyst ratings.
• Shares of Precision Drilling have recently traded up by 1.4%, reaching a price of C$77.53, with a market capitalization of C$1.02 billion.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS had its target price hoisted by investment analysts at CIBC from C$100.00 to C$110.00 in a research report issued on Wednesday,BayStreet.CA reports. CIBC's target price points to a potential upside of 41.88% from the stock's current price.

Other equities analysts have also issued research reports about the stock. TD Securities boosted their target price on shares of Precision Drilling from C$71.00 to C$77.00 and gave the stock a "hold" rating in a research report on Thursday, July 31st. ATB Capital reduced their target price on shares of Precision Drilling from C$87.00 to C$84.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 2nd. Royal Bank Of Canada boosted their target price on shares of Precision Drilling from C$100.00 to C$110.00 and gave the company an "outperform" rating in a research note on Thursday, October 9th. Raymond James Financial upped their price target on shares of Precision Drilling from C$119.00 to C$120.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, National Bankshares reduced their price target on shares of Precision Drilling from C$110.00 to C$100.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 3rd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Precision Drilling has a consensus rating of "Moderate Buy" and an average target price of C$98.71.

Precision Drilling Stock Up 1.4%

Shares of PD stock traded up C$1.09 during trading on Wednesday, hitting C$77.53. 28,532 shares of the company were exchanged, compared to its average volume of 109,860. The company has a debt-to-equity ratio of 51.98, a quick ratio of 1.36 and a current ratio of 1.54. The firm has a market capitalization of C$1.02 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of -3.24 and a beta of 1.60. The business's 50-day simple moving average is C$78.27 and its 200 day simple moving average is C$69.08. Precision Drilling has a twelve month low of C$51.38 and a twelve month high of C$96.91.

About Precision Drilling

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.

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