After ProFrac Holding announced its acquisition of three frac fleets in the Rockies and Eagle Ford, as well as its planned purchase of the largest proppant provider in the Haynesville, Stifel analyst Stephen Gengaro said the frac sand acquisition nearly doubles its overall capacity and solidifies the company’s footprint in the Haynesville, where it currently operates 6 frac fleets. The analyst, who believes the addition of the new assets and proppant capacity are "positive and likely accretive in 2023," has a Buy rating on ProFrac shares with a $38 price target.
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Published first on TheFly
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