Liberty Energy Inc (LBRT) PT Raised to $20 at RBC Capital

RBC Capital analyst Keith Mackey raised the price target on Liberty Energy Inc (NYSE: LBRT) to $20.00 (from $15.00) while maintaining a Sector Perform rating.

The analyst commented: "We recently hosted Ron Gusek (CEO) and Anjali Voria (VP IR) for investor meetings in Toronto and Montreal. Discussions were generally weighted towards Liberty’s power generation business, but all meetings spent some time on fracturing. In the power business, investors were most curious on contracting and potential market size, competitive advantage, and supply chain capability. We came away with an improved appreciation of Liberty’s progress at de-risking this potential growth and raise our price target by $5 to $20, reflecting value from LBRT's first GW of capacity. We maintain our Sector Perform rating, given relative return rankings."

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