RBC Capital Maintains Outperform on Patterson-UTI Energy, Lowers Price Target to $17
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Keith Mackey has maintained an 'Outperform' rating on Patterson-UTI Energy (NASDAQ:PTEN), but lowered the price target from $19 to $17.

November 09, 2023 | 7:01 pm
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RBC Capital has maintained an 'Outperform' rating on Patterson-UTI Energy, but lowered the price target from $19 to $17.
The 'Outperform' rating suggests that RBC Capital expects Patterson-UTI Energy to do well in the market, which is positive for the stock. However, the lowering of the price target from $19 to $17 indicates a reduced future valuation, which could have a negative impact. The net effect on the stock price in the short term is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100