JPMorgan analyst Arun Jayaram lowered the firm’s price target on Nabors Industries (NBR) to $25 from $38 and keeps an Underweight rating on the shares. The firm refreshed estimates for the SMid cap land and offshore drillers as well as frac levered oilfield services stocks to reflect lower oil prices.
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Read More on NBR:
- Nabors Industries falls -9.5%
- Nabors Industries downgraded to Underweight from Equal Weight at Barclays
- Nabors Industries price target lowered to $38 from $50 at Citi
- Nabors Industries price target lowered to $45 from $47 at RBC Capital
- Nabors Industries price target lowered to $29 from $32 at Susquehanna