Piper Sandler Maintains Overweight on Patterson-UTI Energy, Lowers Price Target to $19-Report released on 12th Nov 2023
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Luke Lemoine has maintained an Overweight rating on Patterson-UTI Energy (NASDAQ:PTEN) but reduced the price target from $20 to $19.
November 13, 2023 | 9:33 pm
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NEUTRAL IMPACT
Piper Sandler has maintained an Overweight rating on Patterson-UTI Energy but lowered the price target from $20 to $19, indicating a positive outlook with a slightly reduced growth expectation.
While the Overweight rating suggests that Piper Sandler is optimistic about Patterson-UTI Energy's future performance, the reduction in the price target may reflect a minor adjustment in growth expectations or market conditions. This news is likely to have a neutral short-term impact on the stock price as the positive rating is maintained but the price target is slightly lowered.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100