Flotek price target raised to $8 from $7 at Alliance Global Partners

Alliance Global Partners raised the firm’s price target on Flotek (FTK) to $8 from $7 and keeps a Buy rating on the shares. The company continued its “impressive track record” of sequential adjusted EBITDA growth, reporting Q3 results that surpassed expectations and increasing guidance again, the analyst tells investors in a research note. The firm thinks Flotek is executing “extremely well and represents a differentiated story with a profitable and growing base business with exciting upside potential.”