ProFrac Holding price target raised to $38 from $29 at Stifel

Stifel analyst Stephen Gengaro raised the firm’s price target on ProFrac Holding to $38 from $29 and keeps a Buy rating on the shares after the company "raised the bar" by delivering "robust" Q3 EBITDA per fleet and management noted the company has seen its strongest bookings pipeline in 14-years. Gengaro, who views ProFrac as "very well positioned to deliver robust 2023-24 results," is raising his 2022-24 forecasts following the company’s quarterly report and associated call.