NBR's stock price has headwinds in the near-term
Nabors Industries (NBR) provides drilling and drilling-related services for land-based and offshore oil and natural gas wells across the world. I do not expect the stock price to exhibit a positive momentum in the short-term, given the pressure in the international markets and the time needed to upgrade its legacy rigs to higher-margin, advanced rigs. Once the process completes, I think NBR will start to shoot up in the medium- to long-term.
NBR's management sees weakness in some of its global markets where rig dayrates