Cactus price target lowered to $52 from $54 at JPMorgan

JPMorgan lowered the firm’s price target on Cactus (WHD) to $52 from $54 and keeps a Neutral rating on the shares post the Q1 report. Based on management commentary, the company’s tariff impact in Pressure Control is $10M per quarter in the second half of 2025, but Cactus believes the bulk of these incremental costs can be offset by temporary customer surcharges on product manufactured in China that is imported to the U.S., the analyst tells investors in a research note.