In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Precision Drill (PD). Analyst John Bereznicki from Canaccord Genuity remains bullish on the stock and has a C$4.50 price target.
According to TipRanks.com, Bereznicki is a 3-star analyst with an average return of 0.5% and a 44.1% success rate. Bereznicki covers the Basic Materials sector, focusing on stocks such as Trican Well Service Ltd, Precision Drilling, and Trinidad Drilling.
Currently, the analyst consensus on Precision Drill is a Strong Buy with an average price target of C$5.97, representing an 84.3% upside. In a report issued on November 8, GMP FirstEnergy also reiterated a Buy rating on the stock with a C$8 price target.
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Precision Drill’s market cap is currently C$951.9M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.55.
Precision Drilling Corp. provides onshore drilling, completion, and production services to the oil and natural gas industry. It operates through the Contract Drilling Services; and Completion and Production Services segments. The Contract Drilling Services segment includes drilling rig, directional drilling, oilfield supply, and manufacturing divisions.
The company’s shares closed on Friday at C$3.24, close to its 52-week low of C$3.03.
