Flowco price target raised to $30 from $28 at Jefferies

Jefferies raised the firm’s price target on Flowco (FLOC) to $30 from $28 and keeps a Buy rating on the shares. The firm expects the announced acquisition of the Permian focused Valiant tot be viewed positively by the market as it expands Flowco’s artificial lift portfolio/strengthens positioning in the initial stages of well lifecycle and adds scale/EBITDA at attractive margins. The firm added that the deal also introduces strong cross-selling opportunities and will be free cash flow accretive.