Barclays Trims Dril-Quip (NYSE:DRQ) Target Price to $22.00

Barclays Trims Dril-Quip NYSEDRQ Target Price to $22.00

On Thursday, Benzinga reported that Barclays had lowered its target price for Dril-Quip NYSEDRQ from $23.00 to $22.00 in a research note. The brokerage currently has an underweight rating on the oil and gas company's stock.

Dril-Quip is a provider of products and services to the oil and gas industry, including well construction equipment, production equipment, and drilling technology. The company operates in North America, Europe, Asia, and Africa.

In addition to Barclays, Evercore ISI also lowered their price objective on shares of Dril-Quip from $44.00 to $40.00. It is not clear what factors contributed to the lowering of the target prices for both brokerages.

It's worth noting that stock prices can be affected by a variety of factors, including company performance, industry trends, and broader market conditions. Additionally, analysts and brokerages may have different opinions about a company's potential future performance, which can lead to differing target prices.