The Globe and Mail reports in its Friday, June 2, edition that Raymond James analyst Andrew Bradford is keeping his "strong buy" recommendation for Precision Drilling intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Bradford slashed his share target by $25 to $110. Analysts on average target the shares at $127.36. Mr. Bradford says in a note: "Precision provided an operations update that addresses both the impact of wildfires in Canada (considerably less than feared) and the recent sharp decline in the U.S. rig count (more than we had been modeling). The direct net impact of Precision's update on our 2Q23 EBITDA numbers take us from $129-million EBITDA to $119-million. But the speed and magnitude of the U.S. rig count decline necessitates a reset of our baseline macro forecasts as well. In this respect, we're also lowering our 2H23 EBITDA outlook by 6 per cent, and lowering our target price. ... Notwithstanding our estimate and target reduction, our view is that momentum has driven OFS share prices to levels considerably below what future cash flows would suggest. It's entirely likely that negative momentum will continue to control the market dynamic over the near-term."