Precision Drilling price target lowered to $91 from $115 at Piper Sandler

Piper Sandler lowered the firm’s price target on Precision Drilling to $91 from $115 and keeps an Overweight rating on the shares. The debate still remains on how much U.S. land activity will decline and what this will do to pricing and margins, the analyst tells investors. Even if North America will be better than current market expectations, it is "hard to disprove the negative thesis" at the moment, Stifel says.