Raymond James Maintains Strong Buy Rating for Patterson-UTI Energy: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Raymond James has maintained its Strong Buy rating for Patterson-UTI Energy (NASDAQ:PTEN) but lowered its price target from $16.00 to $15.00. PTEN's shares are currently trading down at $11.71, indicating a potential 28.1% increase to the new target price. Patterson-UTI Energy operates as one of the largest land rig drilling contractors in the U.S., with operations primarily in Texas, the Appalachian region, and Colombia.
February 16, 2024 | 5:00 pm
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Raymond James maintains Strong Buy on PTEN, lowers price target to $15. Shares trading at $11.71, suggesting a 28.1% potential rise.
The maintenance of a Strong Buy rating by Raymond James, despite a slight decrease in the price target, suggests a positive outlook on PTEN's stock. The potential 28.1% increase to the new target price indicates significant growth expectations, likely to influence investor sentiment positively in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100