BofA Securities analyst Saurabh Pant maintains $Liberty Energy (LBRT.US)$ with a hold rating, and adjusts the target price from $22 to $21.5.
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 $Liberty Energy (LBRT.US)$'s main analysts recently are as follows:
The outlook for global oil demand growth appears to be softening, with an ample supply potentially leading to a difficult environment in 2025 for oil prices and Oilfield Services stock selection. The current situation suggests a need for U.S. Land oil production to level off promptly. Average price targets across the sector have been adjusted downward by approximately 6%.
The analyst is adjusting the U.S. activity projections for the latter half of 2024 and 2025, slightly lowering expectations for international growth in 2025, and revising downward the estimates for covered oilfield services companies. The revised outlook suggests roughly steady U.S. activity through 2025, and overall, the analyst perceives a scarcity of immediate catalysts for stocks in the sector, aside from the strong free cash flow and cash distributions to shareholders.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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