7/103 sources · 3 publishersUpdated Oct 20, 21:23 UTC
TD Cowen upgrades Precision Drilling to Buy and raises price target to C$150
TD Cowen lifted its rating on Precision Drilling Corp. (PDS) from Hold to Buy and increased its price target to C$150. The analyst cited management’s plan to recover U.S. margins to about $10,000 per day in Q4 2026. The upgrade prompted a 4.5% rise in the stock price. Precision reported Q2 revenue of $452.8 million, but EPS of –$0.5548 due to reactivation costs.
Why it matters
TD Cowen expects margin improvement to boost cash flow, which could support further share‑price gains. The higher target and rating may attract additional buying interest.
Key facts
- 1TD Cowen upgraded Precision Drilling to Buy from Hold. investing.com
- 2The firm raised its price target to C$150. investing.com
- 3TD Cowen expects U.S. margin recovery of $10,000 per day in Q4 2026. investing.com
- 4Precision Drilling’s shares rose 4.5% after the upgrade. gurufocus.com
- 5Q2 revenue was $452.8 million, beating the $441.34 million estimate. investing.com
- 6Q2 EPS was a loss of $0.5548 per share. investing.com
Open questions
- Prior price target was reported as C$116 and C$111.
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.