Nabors Industries price target lowered to $29 from $32 at Susquehanna

Susquehanna lowered the firm’s price target on Nabors Industries (NBR) to $29 from $32 and keeps a Neutral rating on the shares. The firm updated its model following results and estimates were revised lower as the outlook for US and international drilling activity has been tempered with the lower commodity price environment and weaker economic outlook.