Rig stock price today forecast reflects sector resilience, with cash flow stability and multi-year contract backlogs reinforcing long-term investor confidence. As covered by TipRanks contributor Shrilekha Pethe, as well as by Bloomberg and others, GME stock unexpectedly zoomed higher on Monday, even doubling in price at around 10:00 a.m. Eastern time. Thanks to Pethe’s reporting, I quickly learned that there weren’t any company-prompted catalysts on May 13, such as an earnings report or an announcement from GameStop’s CEO, Ryan Cohen. Barclays slashed its price target from $4.50 to $4, sparking investor concern despite maintaining an “Overweight” rating. Meanwhile, Citigroup also downgraded its target to $3.50. Rig stock price today forecast pushes towards the $6.25 mark, backed by bullish MACD crossovers and sector-wide optimism about Q3 drilling activity spikes.
