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Fly News Breaks for July 27, 2018
PTEN
Jul 27, 2018 | 06:59 EDT
Credit Suisse analyst James Wicklund upgraded Patterson-UTI while lowering his price target for the shares to $19 from $22. The company has moved contract drilling to the forefront and while there is market oversupply, demand should improve beginning in the Marcellus in early 2019 and the Permian in the second half of 2019, Wicklund tells investors in a research note. The analyst finds the valuation attractive at current share levels.
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