- Pason Systems Inc. PSI PSYTF price target has been raised to C$23 from C$22 by RBC Capital analyst Keith Mackey while maintaining the Outperform rating on the shares.
- The analyst mentioned that Pason reported strong 1Q22 results, highlighting growth in revenue per industry day and EBITDA margins.
- Mackey stated that global drilling activity remains strong, although the steepest improvements in North America are likely in the rearview mirror.
- In that context, the analyst sees value in Pason shares as the company demonstrates strong margins, free cash flow, and financial returns.
- Price Action: PSI shares are trading lower by 6.66% at C$15.13 on TSX, and PSYTF is lower by 7.29% at $11.75 on the last check Monday.
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