JPMorgan lowered the firm’s price target on Patterson-UTI (PTEN) to $7 from $9 and keeps a Neutral 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 PTEN:
- Moody’s cuts U.S. rating, Trump urges Walmart to ‘eat’ tariffs: Morning Buzz
- Citi downgrades Patterson-UTI to Neutral on pricing risk
- Patterson-UTI downgraded to Neutral from Buy at Citi
- Patterson-UTI price target lowered to $8 from $11 at Barclays
- Patterson-UTI Energy’s Earnings Call Highlights Resilience Amid Market Challenges
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