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.