The Globe and Mail reports in its Thursday, Aug. 1, edition that BMO Capital analyst John Gibson continues to rank Precision Drilling "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Gibson moved his share target to $140 from $135. Analysts on average target the shares at $127.50.
Mr. Gibson says in a note: "Precision Drilling reported strong Q2/24 results, above both our and consensus numbers. We believe the company has gained market share in the WCSB, while its strong free cash flow generating characteristics continue, which should push shareholder returns to 50 per cent in 2025 (vs. 25-35 per cent in 2024)." The Globe reported on Jan. 7, 2023, that Mr. Gibson had reaffirmed his "outperform" recommendation for Precision Drilling. The shares could then be had for $103.03. The Globe reported on Jan. 26, 2024, that National Bank Financial analyst Dan Payne continued to rate Precision Drilling "sector perform." The shares could then be had for $82.41. The Globe reported on April 26, 2024, that Raymond James analyst Michael Barth had reaffirmed his "strong buy" recommendation for Precision Drilling. The shares were then going for $98.91.
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