Cactus downgraded to Equal Weight from Overweight at Barclays

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.