RBC Capital Markets lowered its price target on Precision Drilling Corp. (PD.TO, PDS) to $110 from $121.
Analyst Keith Mackey maintained an Outperform rating on shares of the Calgary-based drilling rig contractor following its quarterly results.
"PD's 4Q24 results were in line with the Street," Mackey said in a note to clients.
"We remain constructive on PD shares due to leading market share in a strong Canadian drilling market, pathway to organic de-leveraging, and increasing shareholder returns, though we see limited near-term catalysts for the shares given a flat US rig market," 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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