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Nabors Industries Ltd. (NBR)
by Zacks Equity ResearchNovember 02, 2012 | Comments : 0 Recommended this article: (0)
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As usual, we remain concerned about weak natural gas fundamentals, which are likely to limit the company's ability to generate positive earnings surprises. Nabors' fairly debt-heavy balance sheet also remains an issue.
Considering these factors, we see Nabors as a risky bet from which ordinary investors should exit or avoid. This is corroborated by our $12 price objective, which is based on a 2013 P/E multiple of 7.8X.
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