Nabors Has Tailwinds
Nabors Industries (NBR) provides drilling and drilling-related services for land-based and offshore oil and natural gas wells across the world. I think the stock price can start to exhibit positive momentum in the short-term. Once the U.S. energy activity picks up and the company’s deleveraging process is done, it will begin to shoot up in the medium-to-long term.
The most remarkable change in NBR’s stance is its growing optimism in the international markets. While earlier Nabors’ management expressed caution on the uneven recovery in global markets and the fall in