Citi analyst Scott Gruber raised the firm’s price target on ProPetro Holding to $11 from $10 and keeps a Neutral rating on the shares. The company is likely to post “solid” Q3 results on share gains, but Citi is 14% below 2024 EBITDA estimates for ProPetro in part given newbuild lease expense, the analyst tells investors in a research note.
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