Nabors Industries (NBR -3.8%) is downgraded to Neutral with a $16 target price (down from $17)...

|About: Nabors Industries Ltd. (NBR)|By:, SA News Editor

Nabors Industries (NBR -3.8%) is downgraded to Neutral with a $16 target price (down from $17) at Global Hunter to reflect lower estimates for the current quarter through 2013. The firm says activity across most business lines is tracking below its prior forecast and is unlikely to meet expectations given the current fundamental headwinds impacting its product lines.