In the latest analyst update, Morgan Stanley has announced a revision concerning Nabors Industries (NBR, Financial). The investment firm, known for its detailed market analysis, has lowered the price target for Nabors Industries from $75.00 to $50.00. This represents a decrease of 33.33% from the previous valuation.
Despite the downward adjustment in the price target, analyst Daniel Kutz of Morgan Stanley has maintained the stock's current rating at "Overweight." This indicates ongoing confidence in Nabors Industries (NBR, Financial), even with the adjusted financial expectations.
The decision to lower the price target while retaining the "Overweight" rating signals that Nabors Industries (NBR, Financial) still holds potential for value growth, albeit at a revised outlook. Investors and market watchers are now anticipated to keep a close eye on further developments surrounding Nabors Industries (NBR) as new economic and industry conditions unfold.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 7 analysts, the average target price for Nabors Industries Ltd (NBR, Financial) is $46.14 with a high estimate of $75.00 and a low estimate of $29.00. The average target implies an upside of 52.34% from the current price of $30.29. More detailed estimate data can be found on the Nabors Industries Ltd (NBR) Forecast page.
Based on the consensus recommendation from 8 brokerage firms, Nabors Industries Ltd's (NBR, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Nabors Industries Ltd (NBR, Financial) in one year is $123.39, suggesting a upside of 307.36% from the current price of $30.29. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Nabors Industries Ltd (NBR) Summary page.
