What's Going On With Pason Systems Shares Today

May 2, 2022 3:17 PM | 1 min read |

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.