Stifel analyst Stephen Gengaro lifted the price target on Patterson-UTI Energy from $14 to $15 while maintaining a Buy rating. The new target implies an upside of over 45% from the current share price. The firm raised its 2026-2027 estimates after Patterson-UTI increased its second-quarter adjusted EBITDA guidance to $220 million from $206 million, citing higher hydraulic fracturing pricing and solid drilling and completions performance. The company expects to exit the quarter with about 95 active rigs and to surpass 100 active rigs in the United States by the end of 2026.
Patterson-UTI Energy IncStifel raised price target to $15 and maintained Buy rating after improved Q2 EBITDA guidance.