Equity Research Upgrades EPS And PT on Nabors Industries (NBR)

Equity Research upgraded its earnings per share estimates and price target on Nabors Industries (NYSE: NBR).

Earnings per share is expected to stay the same in 2011 due to soft demand. In the following year, however, earnings per share expectations were modified upwards from $2.25 to $2.55. The new price target is $33.

Equity currently has a Hold rating on Nabors' shares.

On Friday, Nabors' shares added 1.16% to their value to close the week at $30.64.