Jefferies analyst Brad Handler reiterated a Buy rating on Nabors Industries (NBR) on November 1 and set a price target of $8. The company’s shares closed yesterday at $5.68.
According to TipRanks.com, Handler has 0 stars on 0-5 star ranking scale with an average return of -7.2% and a 35.9% success rate. Handler covers the Basic Materials sector, focusing on stocks such as Baker Hughes a GE company, C&J Energy Services Inc, and Frank’s International.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nabors Industries with a $9.25 average price target, a 62.9% upside from current levels. In a report issued on October 18, Merrill Lynch also resumed coverage with a Buy rating on the stock with a $8 price target.
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The company has a one-year high of $8.87 and a one-year low of $4.49. Currently, Nabors Industries has an average volume of 11.57M.
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Nabors Industries Ltd. engages in the provision of platform work over and drilling rigs. It operates through the following segmetns: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The U.S. segment includes land drilling activities in states and Alaska as well as offshore operations in the Gulf of Mexico.
