The recent pullback of about 5% in the stock market has created a number of buying opportunities. However, one sector is down even more thanks to what might be an overly bearish report by analysts at Barclays (NYSE:BCS). A recent Barron's article details a very negative scenario in which (potentially) some drilling stocks could drop by about 35%. The bearish outlook assumes that day rates will drop by about 16% and that companies with older equipment will be impacted the most. This is because older equipment typically commands the lowest rates and it is often the last to get contracted as older rigs can require more maintenance and are less efficient. Under this scenario, the analysts predict that...
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