ProFrac Holding price target lowered to $6 from $8 at Piper Sandler

Piper Sandler lowered the firm’s price target on ProFrac Holding (ACDC) to $6 from $8 and keeps a Neutral rating on the shares. The main themes shaping Power Services include market bifurcation and regulatory tailwinds, the analyst tells investors in a research note. Regulatory tailwinds are mounting, including the recent inaugural Pennslyvania Energy and Innovation Summit and Texas Senate Bill 6, and while both promote and support the growth efforts for AI data centers, they reducing risk to the grid, favoring distributed power generation solutions, Piper says.