Research Alert: CFRA Maintains Sell Opinion On Shares Of Patterson-uti Energy, Inc.
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CFRA maintains a sell opinion on Patterson-UTI Energy, Inc., raising its 12-month target price from $6.50 to $9.50. Analysts suggest shares are slightly overvalued, with a projected operating loss per share of $0.21 for 2026. The company is trading about 20% above its historical average on EBITDA. While privately-held E&Ps are increasing spending due to rising crude oil prices, public E&Ps are not expected to follow suit until at least 2027.
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