Piper Sandler analyst Derek Podhaizer lowered the firm’s price target on Flowco (FLOC) to $33 from $34 and keeps an Overweight rating on the shares. After a slight earnings miss, the firm anticipated Flowco to face weakness, a trend seen all reporting season, but the pressure was much worse than expected with shares falling nearly 13%, heavily underperforming flat OIH. Exacerbating the move was its outperformance into the print over the past month, a high earnings bar set since the IPO with implied 2025 EBITDA guidance now 5% below consensus, HPGL/VRU momentum being offset by conventional gas lift products and compression, and technical headwinds with limited trading liquidity creating meaningful selling pressure.
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