Drilling Tools price target lowered to $2.80 from $3 at Jefferies

Jefferies analyst Lloyd Byrne lowered the price target for Drilling Tools (DTI) to $2.80 from $3 while keeping a Hold rating. The firm said it updated its model following the company’s Q2 report. Jefferies’ revised view of 2026 guidance, as reaffirmed by Drilling Tools, suggests a stronger recovery in the second half of the year. The note indicates that while expectations remain for improvement later, the change in the target reflects updated assumptions in its valuation framework after reviewing the quarter’s results.