Piper Sandler initiated coverage of National Energy Services (NESR) with an Overweight rating and $11 price target Piper rolled out coverage of 13 Smid-cap oilfield services stocks. The firm sees a challenging backdrop for U.S. land, saying oil prices remain below $70 per barrel due to tariffs and production hikes. The analyst expects a “persistent negative rate-of-change envinrment” for the rest of 2025 with the U.S. land rig count falling to 500 from 522 today. This will create pressure on frac activity and proppant pricing, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NESR:
- NESR Completes Warrant Exchange Offer and Plans Delisting
- NESR Announces Successful Warrant Exchange and Consent Solicitation Completion
- National Energy Services announces expiration, results of exchange offer
- National Energy Services joins Russell 2000, Russell 3000 Indexes
- National Energy Services management to meet with Maxim