Nabors Industries Ltd.’s (NBR) Coverage Initiated With Neutral Rating

Analysts Charles Minervino and James Schumm at Susquehanna Financial Group have initiated coverage for Nabors Industries Ltd. (NYSE: NBR) with Neutral rating.

Analysts like the company’s leverage to international drilling activity. Analysts’ 2010 and 2011 EPS forecast for Nabors Industries Ltd. are below consensus. Analysts expect 2010 EPS to be $1.02 and 2011 EPS to be $1.58. Revenues are expected to be up 19% and 15% in 2011 and 2012.

Analysts believe that the company’s international exposure will be a key growth driver in long-term.