BofA Securities analyst Saurabh Pant maintains $ProFrac Holding (ACDC.US)$ with a hold rating, and adjusts the target price from $8.5 to $7.5.
According to TipRanks data, the analyst has a success rate of 40.0% and a total average return of -2.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $ProFrac Holding (ACDC.US)$'s main analysts recently are as follows:
Weakening global oil demand growth alongside an abundant supply is anticipated to present a challenging environment for oil prices and Oilfield Services stock selection in 2025. The current global oil supply/demand dynamics are compelling a need for U.S. Land oil production to level off promptly.
The firm has revised its activity assumptions for the second half of 2024 and the entirety of 2025 within the U.S., resulting in a more conservative outlook for international growth in 2025, and subsequently adjusted its estimates for oilfield services companies. The expectation is for U.S. activity levels to remain roughly consistent through 2025, with limited immediate impetus for stock movement. The moderated expectations for land activity in the U.S. underpin the less optimistic stance on ProFrac, with the company's higher leverage compared to its peers continuing to be a point of concern for investors and a potential obstacle for the stock's valuation.
Note:
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