Ranger Energy price target lowered to $12 from $13 at Piper Sandler

Piper Sandler lowered the firm’s price target on Ranger Energy to $12 from $13 and keeps a Neutral rating on the shares. While the international/offshore cycle is still very healthy, the firm believes expectations should orient around a 10%-15% CAGR over the next few years vs some market expectations that believed this could be 15%-20%.