Nabors Industries price target raised to $47 from $45 at RBC Capital

RBC Capital raised the firm’s price target on Nabors Industries (NBR) to $47 from $45 and keeps a Sector Perform rating on the shares. The company’s $600M sale of Quail Tools incrementally improves Nabors risk/reward proposition and highlights the potential additional avenues that may be available as it prepares to tackle its $2.5B in debt maturities between 2027-2031, even though the firm continues to see more attractive risk-adjusted return potential in other drilling names at this time, the analyst tells investors in a research note.