Flotek initiated with a Buy at Roth MKM

Roth MKM initiated coverage of Flotek with a Buy rating and $6.50 price target. FTK‘s chemistry business utilizes proprietary data sets which improves returns from oil and natural gas completions, the analyst tells investors in a research note. Separately, the company’s data analytics provides a new, high-value, addressable market, which, should see accelerating growth in the second half of 2024 into 2025 as its products enter the market, says the firm.