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Fly News Breaks for April 28, 2017
PTEN
Apr 28, 2017 | 08:11 EDT
Raymond James analyst Marshall Adkins said the pullback in Patterson-UTI is a buying opportunity as sharse have been beaten up along with oil prices and weaker earnings from other US land drillers. Adkins views Patterson-UTI as one of the most attractive plays in the group and expects growth to be achieved through rig upgrades and reactivations of pressure pumping, higher prices, and increased margins with higher utilization. The analyst rates shares a Strong Buy with a $34 price target.
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