01:10 AM EDT, 04/30/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target price of $6.50, down by $1.50, reflects a 3.8x multiple of enterprise value to projected 2026 EBITDA. The applied multiple is below PTEN's historical forward average, but merited by our concerns over weak energy prices. We widen our expected loss per share in 2025 by $0.01 to $0.09, and maintain our 2026 EPS estimate of $0.07. Q1 revenues dropped by double digits in both the Completion Services and Drilling Services segments, and margins suffered as well. The bigger picture here, in our view, is that PTEN's fortunes are dictated by upstream capital spending. While rig counts are low, as are active frac crews, we think this is reflective of a generally weak energy price environment for 2025. As a result, we do not think a spending recovery is imminent. However, we do see a sunnier outlook for 2026. PTEN is reducing its debt on the books and is still offering a decent yield (5.3%).