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Precision Drilling downgraded to Hold from Buy at TD Securities

Precision Drilling downgraded to Hold from Buy at TD Securities

TD Securities analyst Aaron MacNeil downgraded Precision Drilling (PDS) to Hold from Buy with a price target of C$100, down from C$120. The proposed 10% tariff is likely to negatively impact Canadian activity in conventional heavy oil plays like the Clearwater, where Precision has a dominant market share, the analyst tells investors in a research note. The firm says that while there are “greenshoots” in the U.S. natural-gas activity outlook, it views Precision’s potential upside in 2025 as limited.

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