RBC Capital lowered the firm’s price target on Liberty Energy (LBRT) to $23 from $26 and keeps an Outperform rating on the shares. The company reported lower than expected EBITDA and painted a weaker picture of frac activity and pricing into the end of 2024, the analyst tells investors in a research note. RBC adds however that while the second half outlook and reduced free cash flow profile leaves it less bullish on the name, a potential Liberty Power Innovations update in early 2025 is a “looming catalyst for the shares”.
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Read More on LBRT:
- Liberty Energy price target lowered to $25 from $26 at Stifel
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