Patterson-UTI price target lowered to $6 from $6.50 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Patterson-UTI (PTEN) to $6 from $6.50 and keeps an Equal Weight rating on the shares. The firm is updating its price targets for stocks in the Energy Services & Equipment North America sector under its coverage, the analyst tells investors. Morgan Stanley expects Q3 results and Q4 guidance to be in-line with consensus, but notes it sees risk to estimated performance in 2026.