Pacific Drilling Given New $12.00 Price Target at Dahlman Rose (PACD)
The analysts wrote, “PACD provided revenue efficiency guidance of 91%-94%, which prompts us to lower our expectations to 93% from 94%. Costs are forecast to be higher as well; total rig opex (including direct rig related opex and shore-based support costs) are expected to be $200k-$207k/day, up from ~$202k/day in 2012. Interest expense and SG&A costs are both expected to be higher than previously forecast as well. While some of the cost increases are due to labor inflation, much is due to the costs associated with a growing fleet, which is beneficial to NAV and the stock price if disappointing in the near term.”
A number of other analysts have also recently weighed in on PACD. Analysts at Howard Weil raised their price target on shares of Pacific Drilling from $12.00 to $14.00 in a research note to investors on Tuesday, February 19th. They now have a “sector outperform” rating on the stock. Separately, analysts at Barclays Capital initiated coverage on shares of Pacific Drilling in a research note to investors on Thursday, January 24th. They set an “overweight” rating and a $14.00 price target on the stock. Finally, analysts at Clarkson Capital reiterated an “outperform” rating on shares of Pacific Drilling in a research note to investors on Wednesday, December 12th. They now have a $12.00 price target on the stock.
Eleven equities research analysts have rated the stock with a buy rating, three have given an overweight rating, and five have assigned a hold rating to the company. The company currently has an average rating of “overweight”.
Pacific Drilling traded down 0.21% on Friday, hitting $9.33. Pacific Drilling has a 52-week low of $7.77 and a 52-week high of $11.12. The stock’s 50-day moving average is currently $10.07. The company has a market cap of $2.024 billion and a price-to-earnings ratio of 69.26.
Pacific Drilling SA is a Luxembourg-based ultra-deepwater oil drilling company. The Company’s fleet consists of seven ultra-deepwater drill ships, such as Pacific Bora, Pacific Mistral, Pacific Scirocco, Pacific Santa Ana, Pacific Khamsin and Pacific Sharav.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.