Cactus price target lowered to $51 from $54 at Barclays

Barclays lowered the firm’s price target on Cactus (WHD) to $51 from $54 and keeps an Equal Weight rating on the shares. With a large portion of its product costs related to imports from China and U.S. manufacturing reliant on steel imports, Cactus has been at the center of the tariff debate for the past several months, the analyst tells investors. However, by shifting manufacturing capacity from Vietnam, Cactus expects to mitigate the tariff impact in 12 months while navigating a slowing U.S. market, notes the analyst, who lowered the firm’s FY25 and FY26 EBITDA estimates by 5% and 7%, respectively.