Nabors Industries Ltd. : Nabors shares set to rise on natural gas upswing: Barron's
06/17/2012| 05:22pm US/Eastern
(Reuters) - Oil and gas drilling company Nabors Industries is poised to see its shares rise, according to a report in Barron's.
While its stock is down more than 50 percent from its 52-week high, hurt by a drop in natural gas prices, the world's largest onshore driller deserves a second look, the report said.
The company, which raised investors' ire with its generous perks and packages for its former CEO, is back on track with a new chief executive, the report said.
Along with its steady U.S. domestic business and asset sales the report said that Nabors stock should snap back if natural gas prices increase.
Barron's said its shares could hit $30.
Shares of Nabors closed up 2.9 percent at $13.07 on Friday.
(Reporting By Jennifer Saba; Editing by Chizu Nomiyama)