Canaccord Genuity Reaffirms Their Buy Rating on Precision Drill (PD)

By Austin Angelo

Precision Drill (PDResearch Report), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. The company received a Buy rating from Canaccord Genuity’s analyst John Bereznicki, with a C$3.50 price target.

According to TipRanks.com, Bereznicki is ranked #5066 out of 5237 analysts.

Currently, the analyst consensus on Precision Drill is a Strong Buy with an average price target of C$4.69.

Based on Precision Drill’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$25.01 million. In comparison, last year the company had a GAAP net loss of C$47.22 million.

Precision Drilling Corp. provides onshore drilling, completion, and production services to the oil and natural gas industry. It operates through the following segments: Contract Drilling Services; and Completion and Production Services.

The company’s shares closed on Tuesday at C$2.29, close to its 52-week low of C$2.20.