BofA lowered the firm’s price target on Liberty Energy (LBRT) to $18 from $21.50 and keeps a Neutral rating on the shares. Pricing pressure in frac has now spread to Tier 1 Pumpers and equipment, as evident in Liberty’s acknowledgement of “slowing activity pressuring pricing inconsistent with (it’s) expected future demand,” the analyst tells investors. The firm believes realized pricing for Liberty is likely to further weaken before it gets better, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on LBRT:
- Liberty Energy price target lowered to $23 from $26 at RBC Capital
- Liberty Energy price target lowered to $25 from $26 at Stifel
- Liberty Energy price target lowered to $21 from $24 at Barclays
- Liberty Energy downgraded to Neutral from Buy at Citi
- Uber said to consider Expedia bid, CSX posts Q3 miss: Morning Buzz
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
