Barclays analyst J. David Anderson downgraded Cactus (WHD) to Equal Weight from Overweight with an unchanged price target of $61. Quarter after quarter, Cactus has proven it has a differentiated business that will outpace the market under any conditions, the analyst tells investors in a research note. However, the firm says “it doesn’t get any easier from here.” It believes the company’s “premium story” is now fully priced into the shares.
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