ProPetro Holding price target lowered to $12 from $13 at Stifel

Stifel lowered the firm’s price target on ProPetro Holding to $12 from $13 and keeps a Buy rating on the shares. The firm, which does not expect any major surprises in Q2 earnings season, is modestly reducing activity assumptions, estimates, and target prices on several names in Oilfield Services & Equipment, but adds in a preview for the group that tempered enthusiasm around U.S. land and possibly a slight ratcheting back of international growth projections is possible.