BofA Securities analyst Saurabh Pant maintains $Cactus (WHD.US)$ with a sell rating, and adjusts the target price from $44 to $48.
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 $Cactus (WHD.US)$'s main analysts recently are as follows:
A challenging environment is anticipated for oil prices and Oilfield Services stock selection by 2025, due to a combination of weakening global oil demand growth and abundant supply. It is considered necessary for U.S. Land oil production to stabilize swiftly. Average price target estimations across the sector have been reduced by 6% to reflect this outlook.
The firm is revising downwards its activity projections for the latter half of 2024 and for 2025 in the U.S., along with a slight tempering of growth expectations internationally for the upcoming year. This adjustment leads to a reduction in estimates for oilfield services companies. The expectation is for U.S. activity levels to remain relatively unchanged through 2025. Overall, there appears to be a scarcity of immediate drivers for stocks in this sector, aside from the strong free cash flow and the return of cash to shareholders.
Note:
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