Precision Drilling (TSE:PD) Given New C$80.00 Price Target at TD Securities

Key Points

• TD Securities raised the price target for Precision Drilling from C$77.00 to C$80.00, maintaining a "hold" rating on the stock.
• Several analysts have differing views, with Royal Bank of Canada increasing its target to C$110.00 and National Bankshares lowering theirs to C$100.00, reflecting varying opinions on the stock's outlook.
• Precision Drilling's shares rose 4.2% to C$82.13 in mid-day trading, indicating positive market sentiment amid recent analyst updates.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS had its price target hoisted by equities researchers at TD Securities from C$77.00 to C$80.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. TD Securities' price target points to a potential downside of 2.59% from the stock's previous close.

A number of other analysts have also commented on PD. Royal Bank Of Canada boosted their price target 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. National Bankshares decreased their price target on shares of Precision Drilling from C$110.00 to C$100.00 and set a "sector perform" rating for the company in a research note on Thursday, July 3rd. ATB Capital decreased their price target on shares of Precision Drilling from C$87.00 to C$84.00 and set an "outperform" rating for the company in a research note on Wednesday, July 2nd. CIBC boosted their price target on shares of Precision Drilling from C$100.00 to C$110.00 in a research note on Wednesday, October 15th. Finally, Raymond James Financial boosted their price target on shares of Precision Drilling from C$119.00 to C$120.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$99.14.

Precision Drilling Trading Up 4.2%

Shares of TSE:PD traded up C$3.30 during mid-day trading on Thursday, hitting C$82.13. The company had a trading volume of 171,476 shares, compared to its average volume of 108,682. The firm has a fifty day moving average price of C$78.44 and a 200 day moving average price of C$69.57. The company has a market capitalization of C$1.08 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of -3.24 and a beta of 1.60. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36. Precision Drilling has a one year low of C$51.38 and a one year 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.