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Enter Symbol:
 
Nabors Industries, Inc. (NBR) [hlAlert]

Rating:
Mkt Perform
NBR
down 75.65 %

Nabors Industries, Inc. (NBR) downgraded to Mkt Perform with price target $13 by Friedman Billings

Posted on: Friday,  Jan 9, 2009  8:25 AM ET by Friedman Billings

Friedman Billings rated Mkt Perform Nabors Industries, Inc. (NYSE: NBR) on 01/09/2009. Previously Friedman Billings rated Outperform Nabors Industries, Inc. (NYSE: NBR)
on 06/30/2008., when the stock price was $50.45. Since then, Nabors Industries, Inc. has lost 75.66% as of 01/09/2009's recent price of $12.28.
If you would have followed the previous Friedman Billings's recommendation on NBR, you would have lost 75.65% of your investment in 193 days.

Nabors Industries Limited (Nabors) is a global land drilling contractor, approximately 528 actively marketed land drilling rigs. The Company conducts oil, gas and geothermal land drilling operations in the United States Lower 48 states, Alaska, Canada, South America, Mexico, the Caribbean, the Middle East, the Far East, Russia and Africa. Nabors is engaged in the land well-servicing and contracting in the United States and Canada. The Company market approximately 592 land workover and well-servicing rigs in the United States, primarily in the southwestern and western United States, and actively market approximately 171 land workover and well-servicing rigs in Canada. Nabors is a provider of offshore platform workover and drilling rigs, and actively markets 37 platform rigs, 13 jack-up units and three barge rigs in the United States and multiple international markets. The Company has a 51% ownership interest in a joint venture in Saudi Arabia.

FBR Capital Markets is a full service investment banking, institutional sales, trading and research and asset management firm with a customer-focused and innovative approach to meeting its clients needs. It focuses its banking, advisory, trading and research efforts on seven broad industry sectors including consumer, diversified industrials, energy & natural resources, financial institutions, insurance, real estate and technology, media & telecom. With our headquarters in the Washington, D.C. metropolitan area, our Economic and Washington Policy Analysis groups offer clients a comprehensive overview of national economic trends along with a unique perspective on the impact that legislation and regulation will have on industry sectors and individual companies
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
1/9/2009 8:25 AM Hold
None
12.28 13.00
as of 12/31/2009
1 Week   
1 Month   
3 Months   
1 YTD up  2.58 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
6/30/2008 8:25 AM Buy
None
50.45 56.00
4/23/2008 8:25 AM Buy
None
38.48 45.00
10/12/2007 9:25 AM Buy
None
30.14 35.00
7/26/2007 9:25 AM Buy
None
30.21 37.00

(*) Stock Price at the time of the recommendation.
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