ProPetro Holding (PUMP) PT Raised to $20 at Stifel

Stifel analyst Stephen Gengaro raised the price target on ProPetro Holding (NYSE: PUMP) to $20.00 (from $7.00) while maintaining a Buy rating.

The analyst comments "We are reiterating our Buy and sharply increasing our target price on PUMP to $20 from $7 based on our new sum-of-the-parts analysis detailed below. Our new target price reflects its substantial expansion plans for its Power business, including: 1) expectations to have 220 MW contracted by year-end 2025; 2) receiving delivery of 360 MW of power assets on order by early 2027; 3) ordering additional capacity to have 750 MW delivered by year-end 2028, and 4) the financial flexibility of a $350 million lease financing facility. Importantly, energy is a key bottleneck in the scaling of highperformance compute infrastructure, and hyperscalers appear willing to pay a premium for low-latency and highly-reliable power infrastructure. Access to power is trumping the cost of power, and this is likely to persist, fueling demand for power assets like PUMP has on order."

You May Also Be Interested In

• Hyperion DeFi, Inc. (HYPD) PT Raised to $7.10 at Cantor Fitzgerald
• OptimizeRX (OPRX) PT Lowered to $12 at Stifel, Buy Rating Maintained
• CAVA Group Inc (CAVA) PT Lowered to $75 at DA Davidson Following Q2 Results