Cactus initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of Cactus (WHD) with an Overweight rating and $73 price target The company’s Cactus is now entering a “new era of transformative growth,” driven by international expansion through its recent Surface Pressure Control business unit acquisition, the analyst tells investors in a research note. Piper sees the company optimizing its margins across both U.S. and international markets. This should return Cactus to its historical elevated valuation, the firm contends.