Nabors Industries (NBR) Stock Downgraded at BMO Capital Markets

NEW YORK (TheStreet) -- BMO Capital Markets downgraded Nabors Industries (NBR) to "market perform" from "outperform" on Wednesday.

The analyst firm set a price target of $18 for the oil company.

BMO also lowered its 2015 EPS estimates for Nabors to a loss of 7 cents from its previous estimate of a loss of 1 cent a share. The analyst firm raised its 2016 EPS estimates for the company to 34 cents a share from 19 cents a share "due to updated estimates for Equity Income related to CJES."

BMO analysts said the downgrade is due to Nabors having "limited upside to consensus estimates in 2016, less attractive risk reward, and risk to AC rig market share given that 42% of its AC fleet is comprised of less competitive sub-1,500hp rigs."

Separately, TheStreet Ratings team rates NABORS INDUSTRIES LTD as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate NABORS INDUSTRIES LTD (NBR) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in net income, expanding profit margins and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and a generally disappointing performance in the stock itself."

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