Cactus price target lowered to $53 from $54 at Barclays

Barclays lowered the firm’s price target on Cactus (WHD) to $53 from $54 and keeps an Overweight rating on the shares. North America onshore energy services has underperformed the past three months but could continue to slide until rig count declines cease and second half of 2025 expectations are reset lower, the analyst tells investors in a research note. The firm reduced estimates across its coverage, but believes the “worst-case scenario” of crude oil below $55 per barrel “is now behind us.”