The Globe and Mail reports in its Thursday, Feb. 8, edition that ATB Capital Markets analyst Waqar Syed has reaffirmed his "outperform" recommendation for Precision Drilling. The Globe's David Leeder writes in the Eye On Equities that Mr. Syed trimmed his share target by a loonie to $125. Analysts on average target the shares at $125.55. Mr. Syed says in a note: "Precision Drilling has strong visibility for the Canadian market as operators are seeking to lock up rigs in preparation for increases in oil and gas export capacity, while the uncertainty in Lower-48 persists. Precision Drilling secured multiple term contracts averaging 23 rigs in Q4/23 which was a 44-per-cent increase year-over-year. This strong demand for rigs in Canada bodes well for Precision Drilling who now has 30 super triple rigs in the country. On the other hand, the U.S. market outlook remains blurry. Historically, Precision Drilling had significant exposure to the gas basins and private operators, and is now pursuing larger public operators in oilier basins. This transition has been challenging, with Precision Drilling currently operating 39 rigs in the US. A small pick-up is likely in the coming weeks and in Q2/24."