Precision Drilling Corp. (PD.TO) was downgraded to Hold from Buy at TD Securities on Monday.
Analyst Aaron MacNeil lowered his price target on shares of the Canadian drilling rig contractor to $100 from $120.
"In our view, the proposed 10% tariff is likely to negatively impact Canadian D&C activity in conventional heavy oil plays like the Clearwater, where Precision has a dominant market share," MacNeil said in a note to clients.
"While there are admittedly greenshoots in the US natural-gas activity outlook, we view the potential upside in 2025 as limited," the analyst said.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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