Cactus price target lowered to $58 from $60 at Stifel

Stifel lowered the firm’s price target on Cactus to $58 from $60 and keeps a Buy rating on the shares. The company reported strong Q4 results and provided Q1 guidance was that in-line with expectations, the analyst tells investors. Cactus’ differentiated product lines, customer base, and international expansion opportunities position the company to outperform activity in 2024 and beyond, Stifel argues.