As previously reported, Piper Sandler double upgraded Nabors Industries to Overweight from Underweight with a price target of $65, up from $32. The firm views both Helmerich & Payne (HP) and Nabors Industries (NBR) as key beneficiaries of Saudi Arabia returning to work. Piper says that with Nabors, for the first time in a decade, the primary topic isn’t the balance sheet after it divested Quail Tools. Now the firm is focused on the international inflection, which the company is well positioned for with its SANAD JV.
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