ProPetro Holding price target raised to $17 from $16 at Piper Sandler

Piper Sandler raised the firm’s price target on ProPetro Holding (PUMP) to $17 from $16 and keeps an Overweight rating on the shares. The news surrounding Venezuela and the potential return of O&G activity catapulted stocks in the space, the firm notes. While the recent outperformance may pose positioning pressure in the near term, Piper still likes the setup for the year on potential cyclical convergence creating a positive rate-of-change. For Q4 2025, the firm likes the U.S. Land completion names due to better-than-expected seasonality and the Saudi return-to-work theme, while remaining cautious Offshore D&C due to white space.