Barclays analyst J. David Anderson lowered the firm’s price target on Liberty Energy to $24 from $26 and keeps an Overweight rating on the shares as part of a Q3 earnings preview for the energy services group. The firm sees limited downside risk to estimates saying macro concerns, low expectations and a lack of catalysts are well reflected in the group’s “discounted valuations.” With 2025 looking a lot like 2024, outperformance will be dictated by differentiated businesses and themes driving earnings visibility in a low growth market, the analyst tells investors in a research note.
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