Upgrade Alert for Nabors Industries (NBR)
Nabors Industries (NYSE:NBR) was upgraded from Equal Weight to Overweight at Stephens today. The stock closed yesterday at $10.19 on volume of 10.6 million shares, above average daily volume of 9.0 million.
In the past 52 weeks, Nabors Industries share prices have been bracketed by a low of $4.93 and a high of $16.99 and closed yesterday at $10.19, 107% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has slid 0.8%.
There is potential upside of 25.0% for shares of Nabors Industries based on a current price of $10.19 and an average consensus analyst price target of $12.74. The stock should find initial support at its 200-day moving average (MA) of $9.28 and further support at its 50-day MA of $9.03.
Nabors Industries Ltd, is a land drilling contractor, and also performs well servicing and workovers. The Company conducts oil, gas, and geothermal land drilling operations. Nabors' well-site services include oilfield management, well logging, and other support services.
SmarTrend is tracking the current trend status for Nabors Industries and will alert subscribers who have NBR in their portfolio or watchlist when shares have changed trend direction.
Keywords: analyst upgrades/downgrades Nabors Industries