Liberty Energy price target raised to $27 from $26 at Stifel

Stifel raised the firm’s price target on Liberty Energy to $27 from $26 and keeps a Buy rating on the shares, stating that the company delivered “solid” Q2 performance and sequential adjusted EBITDA growth despite “lackluster market activity.” The firm is trimming estimates as management guided the second half to be similar to the first half despite lower overall market activity, but bumping its 12-month target price as it contends that the results and guidance highlight Liberty’s “leading asset mix and execution.”