The Globe and Mail reports in its Friday edition that National Bank analyst Dan Payne thinks the macro backdrop for oil field services providers "firmed up" in the third quarter with "the broader economy continuing to positively navigate the persistent challenges and stress of interest rates and recessionary risks, and commodity prices inclined." The Globe's David Leeder writes in the Eye On Equities column that Mr. Payne continues to rate Precision Drilling "outperform." As well, Mr. Payne is sticking with his $134 share target. Analysts on average target the shares at $133.53. Mr. Payne says in a note: "The punchline for the oil field service group remains; what is the clearing multiple for a high-quality, resilient and sustainable earning profile? The group has positively navigated the deterioration in the rig count, with share prices generally looking through recent activity weakness, in support of general multiple expansion and material headroom continues to exist toward historical multiples (trading at a 40-per-cent discount to historical). With that, we will await further colour on the resilience of earnings through third-quarter reporting, but for the time, we have made associated revisions to our forecasts."