Expro downgraded to Underweight from Neutral at Piper Sandler

Piper Sandler downgraded Expro (XPRO) to Underweight from Neutral with an unchanged price target of $13. The firm cites its view that 2026 represents another transition year for offshore with the “long awaited inflection” a 2027 event for the downgrade. Piper also cites valuation for the downgrade, noting Expro shares are up 40% over the past six months. It sees a lack of a compelling growth story in 2026 and downside risk to estimates for the company.