RBC Capital raised the firm’s price target on Liberty Energy (LBRT) to $32 from $27 and keeps a Sector Perform rating on the shares. The company reported better than expected Q1 earnings and its near-term results also appear to be improving partially due to opportunistic activity increases by select E&Ps and the reversal of prior expectations for further downside in commodity prices, the analyst tells investors in a research note.
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Read More on LBRT:
- Liberty Oilfield Services Eyes Growth Amid Near-Term Strain
- Liberty Energy: Strong Q1 Outperformance but Capital Intensity and NA Exposure Justify Hold Rating
- Liberty Energy reports Q1 adjusted EPS 6c , consensus (14c)
- Liberty Energy sees Q2 revenue growing sequentially, consensus $1.01B
- Is LBRT a Buy, Before Earnings?