ChampionX downgraded to Neutral from Overweight at Piper Sandler

Piper Sandler downgraded ChampionX to Neutral from Overweight with a price target of $32, down from $38. The firm says the U.S. land is a “slow to no growth” market, and that it can’t bake in meaningful potential U.S. growth. There are a number of more compelling free cash flow stories in oil service, the analyst tells investors in a research note.