RBC Capital lowered the firm’s price target on Nabors Industries (NBR) to $75 from $102 and keeps a Sector Perform rating on the shares after its Q4 results. The company’s EBITDA was in line with expectations, but the Q1 guidance implies an 8% sequential reduction, and while the firm continues to view Nabors’ International and Nabors Drilling Solutions businesses as differentiated from peers, it remains neutral on the stock given above-average financial leverage and lower near-term free cash flow visibility, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NBR:
- Nabors Industries price target lowered to $53 from $68 at Susquehanna
- Nabors Industries Faces Financial Uncertainty Amid Parker Merger Integration Costs
- Nabors Industries Reports Q4 2024 Financial Results
- Nabors Industries Ltd. Earnings Call: Mixed Outlook with Growth and Challenges
- Nabors Industries reports Q4 EPS ($6.67) vs. ($2.70) last year
Questions or Comments about the article? Write to editor@tipranks.com