Flowco initiated with an Overweight at JPMorgan

JPMorgan analyst Arun Jayaram initiated coverage of Flowco (FLOC) with an Overweight rating and $32 price target Flowco is a pure-play artificial lift company focused on U.S. shale, with a specialization in high pressure, conventional, and plunger lift systems, the analyst tells investors in a research note. The firm says the company is the industry leader in high pressure gas lift systems, which have “noteworthy” uptime and cost benefits and are supporting “significant growth at high margins” given rising adoption rates from a blue chip set of customers.