Flowco Holdings (FLOC) PT Raised to $26 at BMO Capital

BMO Capital analyst Phillip Jungwirth raised the price target on Flowco Holdings (NYSE: FLOC) to $26.00 (from $24.00) while maintaining an Outperform rating.

The analyst commented: "We like Flowco’s acquisition of Valiant, which broadens its artificial lift solutions to include ESPs, with Valiant one of the largest private providers and entirely in the Permian. Since the IPO, Flowco has discussed the possibility of an ESP acquisition, and the portfolio addition allows the company to offer alternative lift solutions when HPGL is less optimal. The deal is accretive and inside of Flowco’s multiple, while basin/ international expansion and cross-selling create revenue synergy opportunities. We remain Outperform on FLOC shares and our target price increases to $26/share."

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