Piper Sandler raised the firm’s price target on Liberty Energy to $38 from $32 and keeps an Overweight rating on the shares. The firm says the bullish tone on U.S. Land continued with both Liberty Energy (LBRT) and Patterson-UTI (PTEN) echoing tighter than appreciated frac markets with a lack of available capacity, indications of rig additions by the end of Q2, and improving market fundamentals to support OFS pricing power. This creates a positive rate of change story driving upward earnings revisions as EBITDA/fleet and daily margin begin to improve, Piper adds.
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Read More on LBRT:
- Liberty Energy price target raised to $29 from $24 at Barclays
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