Barclays lowers its earnings estimates and stock price target on Nabors (NBR +1.9%) "to reflect...


Barclays lowers its earnings estimates and stock price target on Nabors (NBR +1.9%) "to reflect the unfolding pressure on land rig dayrates and utilization faced by the land drillers, continued deterioration in the stimulation market, and the increased potential that the rig count will trend down modestly in 2H12." Yesterday, NBR warned on Q2 profits based on weak pressure pumping results.

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