Liberty Oilfield Services (LBRT) PT Raised to $10 at Cowen

Cowen analyst Marc Bianchi raised the price target on Liberty Oilfield Services (NYSE: LBRT) to $10.00 (from $9.50) while maintaining a Market Perform rating.

The analyst commented, "LBRT o/p the OIH by >700bps on the day of earnings (4/28) following a substantial profitability-driven 1Q beat. 2Q guide was limited to flattish activity, and EBITDA should grow vs 1Q removing Feb weather impact. Full year outlook for positive FCF appears to require an EBITDA ramp in 2H, which on flat activity could be difficult to achieve absent price improvement. Maintain Market Perform."

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