$PD.TO

Precision Drilling Maintained at Outperform at CIBC Following Q1 Results; Price Target Raised to C$160.00

CIBC Capital Markets maintained its outperform rating on the shares of Precision Drilling (PD.TO, PDS) while raising its price target to C$160.00 from C$150.00 following the company's first-quarter results."Management has indicated visibility towards an inflection point for U.S. rig activity through H2/26, supported by a strong outlook for crude oil pricing, along with increased activity in dry gas basins. We believe PD's share price weakness will prove to be temporary, particularly as we move through Q2/26 and the company's U.S. fleet begins to see increasing utilization. We also expect higher free cash flow in H2/26 as capital spending normalizes, which should support increased share buybacks. We have raised our activity level and field expectations for both the U.S. and Canada, which increases our 2026 EBITDA estimate to $569MM from $533MM previously. We therefore increase our price target to $160/sh ($150/sh prior) based on 2026E EV/EBITDA of 4.3x (4.2x prior)," analyst Jamie Kubik wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $129.99, Change: $+3.29, Percent Change: +2.60%

RBC Keeps Precision Drilling's Outperform Rating, C$150 Price Target

RBC Capital Markets on Wednesday retained Precision Drilling's (PD.TO) outperform rating and C$150 price target.RBC expects Precision's first-quarter results to have negative implications for the shares. The company's adjusted EBITDA of $124 million missed RBC's forecast of $129 million, while adjusted earnings of $1.34 per share was also below RBC's estimate of $2.22 per share.The miss and the year-over-year decline were primarily due to higher stock-based compensation expense, headwinds in the Middle East, and slight headline margin compression in North America, RBC said."PD's second quarter guidance also looks softer than our estimates at the margin given lower daily margins in U.S./Canada, lower active U.S. rig count, partially offset bystronger Canadian rig activity," RBC said."Admittedly, this view could prove myopic given the gathering rig demand tailwinds in the U.S., though we think the market will look for greater signals that revenue growth will be converted to earnings and free cash flow growth," RBC said.Precision traded at $129.60 per share at last look on the Toronto Stock Exchange.Price: $129.15, Change: $-10.88, Percent Change: -7.77%

Precision Drilling Keeps Sector Perform, Target Raised To C$150 From $140 at National Bank As Seen "Keeping Up The Good Pace" in Q1

Earnings Flash (PD.TO) Precision Drilling Reported Q1 Revs $526.1M, Up 6%; Net Earnings Attributable to Holders $17M