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Fly News Breaks for December 19, 2018
PTEN
Dec 19, 2018 | 08:28 EDT
Credit Suisse analyst James Wicklund downgraded Patterson-UTI to Neutral from Outperform as he updates his sector-wide macro forecasts for a lower expected oil price. In 2019, the analyst sees the overall U.S. rig count declining by about 5%, a 5% decline in completions and a 3% decline in pressure pumping horsepower needed. Wicklund also lowered his price target on the shares to $12 from $19.
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