Monday, October 18, 2010

Patterson-UTI (Nasdaq:PTEN) Upgraded by Credit Suisse (NYSE:CS), Weeden

Patterson-UTI (Nasdaq:PTEN) soared on Friday after being upgraded two levels by Credit Suisse (NYSE:CS), and also receiving an upgrade from Weeden.

Credit Suisse upgraded them from "Underperform" to "Outperform." Weeden upgraded Patterson from "Hold" to "Buy."

Weeden increased their price target from $19 to $22, while Credit Suisse bumped them up from $17 to $23.

Patterson closed the week at $19.54, gaining $1.04 on Friday, or 5.62 percent.

The company supplier of oil and natural gas services has been soaring since the latter part of August when it was below $14 a share.

No comments:

Post a Comment