10 Most Oversold Canadian Stocks to Buy According to Analysts

5. Precision Drilling Corporation (NYSE:PDS)

6-Month Performance: -31.66%

Number of Hedge Fund Holders: 15

Analyst Upside Potential: 86.86%

Precision Drilling Corporation (NYSE:PDS) is a leading Canadian company offering contract drilling and completion and production services. Its operations include drilling rigs, procurement and distribution of oilfield supplies, and the manufacture, sale, and repair of drilling equipment. On February 14, CIBC analyst Jamie Kubik maintained a Buy rating on the stock with a price target of C$115.00.

In the fiscal fourth quarter of 2024, the company showed resilience despite a challenging environment. Precision Drilling Corporation (NYSE:PDS) delivered revenue of $1.9 billion, remaining essentially flat year-over-year. More notably, its Canadian Super Series rigs were near full utilization rate with a 12% increased drilling activity in Canada, around 37% increased activity internationally, and a 26% increase in good activity. Looking ahead, the company has planned a capital expenditure of $225 million, with $175 million for sustaining and infrastructure and $50 million for upgrades and expansion. Moreover, it also aims to reduce debt by at least $100 million, with a long-term goal of below 1x leverage. It is one of the most oversold Canadian stocks to buy according to analysts.