Friday, October 15, 2010

Patterson-UTI (Nasdaq:PTEN) Upgraded Two Notches by Credit Suisse (NYSE:CS)

Credit Suisse (NYSE:CS) upgraded Patterson-UTI (Nasdaq:PTEN) two notches today from "Underperform" to "Outperform."

Patterson is a provider of onshore contract drilling services to independent oil and natural gas operators in the United States and Canada.

At 12:32 PM EDT, was up to $19.42, gaining $0.92, or 4.97 percent.

Credit Suisse has a price target of $23 on them, increasing it from $17.

Trading volume has already exceeded the daily three month average of 4,710,340 shares.

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