Bank of America Securities analyst Saurabh Pant maintained a Hold rating on Liberty Oilfield Services (LBRT – Research Report) yesterday and set a price target of $15.00.
Saurabh Pant’s rating is based on Liberty Oilfield Services’ recent financial performance and the broader market conditions. The company reported strong first-quarter results, with revenue and adjusted EBITDA exceeding expectations by 3% and 9%, respectively. This was attributed to improved operational efficiencies and better utilization rates. However, despite these positive results, there are concerns about macroeconomic uncertainties and potential volatility in oil prices, which could impact future performance.
Saurabh Pant also noted that while the company is expected to see sequential growth in revenue and profitability in the second quarter, the overall market environment remains uncertain. The potential for oil prices to fall below $60 per barrel poses a risk to Liberty’s financial outlook, which could lead to a reassessment of its earnings projections. Given these mixed signals, Pant maintains a Hold rating, reflecting a balanced view of the company’s current strengths and the potential risks ahead.
In another report released on April 8, Wells Fargo also downgraded the stock to a Hold with a $11.00 price target.