Precision Drilling initiated with a Buy at Freedom Capital

Freedom Capital initiated coverage of Precision Drilling (PDS) with a Buy rating and $106 price target The rating and target reflect a compelling profile supported by strategic equipment positioning, disciplined capital allocation, geographic and commodity diversification, and ongoing undervaluation, the analyst tells investors in a research note. The firm added that the company’s diversified presence across Canada, the U.S., and Middle East mitigates region specific risks and provides balanced exposure to multiple commodity cycles.