RBC Capital lowered the firm’s price target on Liberty Energy (LBRT) to $24 from $26 and keeps an Outperform rating on the shares after its Q4 results. The company aims to capture a piece of what it views as a high-growth market, while diversifying from its oil & gas based fracturing operations, and on the earnings call, Liberty noted that LPI could rival its fracturing business in size, which would require significant capex and likely additional liquidity, the analyst tells investors in a research note. RBC adds it is cutting its FY25 EBITDA outlook to $723M from $766M following the update.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LBRT:
- Liberty Energy Inc. Reports 2024 Financial Results
- Liberty Energy reports Q4 adjusted EPS 10c, consensus 10c
- Liberty Energy sees “modest” growth in Q1 revenue sequentially, consensus $998M
- Liberty Oilfield Services options imply 6.1% move in share price post-earnings
- Cummins and Liberty Energy announce strategic partnership