The Globe and Mail reports in its Friday, Jan. 12, edition that RBC Capital analyst Keith Mackey, in a report previewing quarterly earnings for the oil-field services industry, cut his Precision Drilling share target to $122 from $125, while maintaining an "outperform" recommendation. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $125.78. Mr. Mackey says in a note: "Our estimates generally sit below street consensus reflecting softer year-end activity in the Lower-48. We expect service companies to provide initial 2024 outlooks which, for the most part, will be light on revenue growth but heavily focused on maximizing FCF generation. Our favourite stocks include those with what we view as differentiated business models, offering unique thematic exposure, basin diversification, and strong or improving FCF fundamentals. Our preferred list remains: Baker Hughes (BKR), Enerflex (NYSE: EFXT, EFX-CA), Liberty Energy (LBRT), and Trican Well Service (TCW-CA), and Pason Systems (PSI-CA)." The Globe reported on Sept. 14 that Mr. Mackey continued to rate Precision Drilling "outperform." The shares could then be had for $97.27.