Flotek resumed with a Buy at Alliance Global Partners

Alliance Global Partners analyst C. K. Poe Fratt resumed coverage of Flotek (FTK) with a Buy rating and $19 price target The data analytics outlook “appears attractive” due to new products and the recent power generation asset acquisition, even thought the near-term chemical outlook is clouded by recent commodity price volatility, the analyst tells investors. With shares up more than 80% year-to-date, including doubling since early May, the firm “wouldn’t be surprised to see some profit taking over the near term,” but it sees upside potential into the $19 per share range, the analyst added.