Precision Drilling's Productivity Push Seen Driving Growth, RBC Says

MT Newswires Live

Mar 23

Precision Drilling (PDS) is focused on driving revenue growth by improving drilling productivity, technology adoption and operational execution, RBC Capital Markets said Sunday in a report.

Precision ended 2025 with 8.8% more US rigs working than the year before, even as the broader market shrank 7.6%, the report said.

RBC said Precision's rigs run on a unified digital system that supports automation, analytics and other tools designed to speed up drilling.

Precision has incremental capital flexibility to compete for key customers and return capital to shareholders, the report said.

RBC raised its price target on Precision stock to 140 Canadian dollars ($102.10) from CA$124 and maintained its outperform rating.

Price: 98.34, Change: -0.30, Percent Change: -0.30

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