Nabors Industries Ltd. (NBR) : Analyst Rating Update

Nabors Industries Ltd. (NBR) : 10 brokerage houses believe that Nabors Industries Ltd. (NBR) is a Strong Buy at current levels. 2 Analyst considers the fundamentals to be worthy of a Buy recommendation. 5 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Nabors Industries Ltd. (NBR). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 18 Wall Street Analysts endorse the stock as a Buy with a rating of 1.83.

Nabors Industries Ltd. (NBR) : 15 Wall Street analysts covering Nabors Industries Ltd. (NBR) believe that the average level the stock could reach for the short term is $12.03. The maximum price target given is $17 and the minimum target for short term is around $7, hence the standard deviation is calculated at $2.64.

Nabors Industries Ltd. (NYSE:NBR): The stock opened at $9.72 on Wednesday but the bulls could not build on the opening and the stock topped out at $9.89 for the day. The stock traded down to $9.54 during the day, due to lack of any buying support eventually closed down at $9.70 with a loss of -1.52% for the day. The stock had closed at $9.85 on the previous day. The total traded volume was 10,674,833 shares.

Also, In the latest statement by the brokerage house, Credit Suisse downgrades its outlook on Nabors Industries Ltd. (NYSE:NBR). The current rating of the shares is Neutral, according to the research report released by the firm. Previously, the company had a rating of Outperform. The brokerage firm lowers the price target from $10 per share to $9 per share. The rating by the firm was issued on June 1, 2016. The company shares have dropped -25.15% from its 1 Year high price. On Jul 14, 2015, the shares registered one year high at $16.14 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $9.64 and the 200 Day Moving Average price is recorded at $8.49.

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company provides of offshore platform work over and drilling rigs. Its business is conducted through two business lines: Drilling & Rig Services and Completion & Production Services. It provides drilling technology and equipment and well-site services, including engineering, transportation and disposal, construction, maintenance, well logging, directional drilling, rig instrumentation, data collection and other support services. It manufactures and leases or sells top drives and other rig equipment. Its Drilling & Rig Services business line consists of four operating segments: U.S., Canada, International and Rig Services. Its Completion & Production Services business line consists of its operations involved in the completion, life-of-well maintenance and plugging and abandonment of a well and consists of two operating segments: Completion Services and Production Services.

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