ProFrac Holding price target raised to $6 from $5 at Piper Sandler

Piper Sandler analyst Derek Podhaizer raised the firm’s price target on ProFrac Holding (ACDC) to $6 from $5 and keeps a Neutral rating on the shares. Looking back on Q1 earnings season, the firm notes the Energy Security theme clearly dominated managements’ messaging, a term used 30 times across the seven Diversifieds. Importantly, the set-up for the group remains positive as cyclical convergence continues to progress as U.S. Land, International, and Offshore are all moving in the right direction, Piper adds.