Citi raised the firm’s price target on Patterson-UTI (PTEN) to $11 from $9 and keeps a Neutral rating on the shares. The firm adjusted targets in the oil and gas equipment and services group as part of a Q1 preview. The sector has “cross-currents” with the completion market recovering and companies with Middle East exposure brining uncertainty, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PTEN: