Cactus price target lowered to $49 from $52 at Citi

Citi lowered the firm’s price target on Cactus to $49 from $52 and keeps a Neutral rating on the shares. Post the Q3 earnings reports, the sentiment on oil services has shifted from bullish to debated, the analyst tells investors in a research note. The firm believes the sector is exiting a period of strong macro calls reflecting the activity surge post pandemic to now a stock pickers sector.