There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Nabors Industries (NYSE:NBR) and Wildhorse Resource Development Corp (NYSE:WRD) with bullish sentiments.
Nabors Industries (NBR)
In a report released yesterday, Michael LaMotte from Guggenheim reiterated a Buy rating on Nabors Industries, with a price target of $13. The company’s shares closed yesterday at $6.49.
According to TipRanks.com, LaMotte ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -8.5% and a 30.8% success rate. LaMotte covers the Basic Materials sector, focusing on stocks such as C&J Energy Services Inc, US Silica Holdings, and Hi-Crush Partners.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nabors Industries with a $9.46 average price target, a 45.8% upside from current levels. In a report issued on August 1, Seaport Global also reiterated a Buy rating on the stock with a $11 price target.
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Wildhorse Resource Development Corp (WRD)
Guggenheim analyst Subash Chandra reiterated a Buy rating on Wildhorse Resource Development Corp yesterday and set a price target of $37. The company’s shares closed yesterday at $23.17.
According to TipRanks.com, Chandra is a 4-star analyst with an average return of 12.7% and a 60.5% success rate. Chandra covers the Basic Materials sector, focusing on stocks such as Continental Resources, Gulfport Energy Corp, and Anadarko Petroleum.
Currently, the analyst consensus on Wildhorse Resource Development Corp is a Strong Buy with an average price target of $35.
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