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Patterson-UTI price target lowered to $8.50 from $9 at RBC Capital

RBC Capital lowered the firm’s price target on Patterson-UTI (PTEN) to $8.50 from $9 and keeps an Outperform rating on the shares. Patterson-UTI’s Q2 results were in-line with estimates as the company focuses on increasing the competitiveness of its offerings through enhanced technology implementation, the analyst tells investors in a research note.

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