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.
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