Core Laboratories price target lowered to $21 from $23 at Stifel

Stifel lowered the firm’s price target on Core Laboratories to $21 from $23 and keeps a Hold rating on the shares. The firm is reducing its 2024 forecasts heading into Q4 results to reflect updated activity expectations following commentary from several companies that have reported thus far, the analyst tells investors. The firm is reducing its 2024 and 2025 EBITDA estimates to $88.2M and $104.8M from $94.1M and $107.9M, respectively, driving its target cut.