Piper Sandler raised the firm’s price target on Nabors Industries (NBR) to $120 from $84 and keeps an Overweight rating on the shares. The firm says it was an impressive day from Nabors as shares advanced 11% driven by solid Q1 results, above Street Q2 guide, a growing U.S. Land rig count, expanding U.S. Land daily margins, continued International growth, a better-than-expected free cash flow loss, and Q2 free cash flow expected to flip positive.
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Read More on NBR:
- Nabors Industries Signals Cautious Optimism in Earnings Call
- Nabors Industries reports Q1 EPS ($1.54), consensus ($2.03)
- Nabors Industries Ltd. (NBR) Q1 Earnings Cheat Sheet
- Nabors Industries price target raised to $100 from $80 at Morgan Stanley
- Nabors Industries price target raised to $84 from $80 at Piper Sandler