Thursday, on the New York Stock Exchange, Liberty Oilfield Services (NYSE:LBRT) received a new coverage assessment from Goldman Sachs (NYSE:GS). The firm initiated its coverage with a Neutral rating and set a price target for LBRT shares at $19.00. The evaluation by Goldman Sachs suggests a tempered outlook for the company.
The analyst from Goldman Sachs highlighted the attractiveness of LBRT for investors interested in companies that buy back a significant portion of their shares. LBRT's strategy of repurchasing approximately 4% of its market capitalization annually, with an anticipated increase to around 5% in 2025, was noted as one of the strongest in the coverage universe.
This stock repurchase program is a key factor in the analyst's view of the company. However, the Neutral rating indicates that Goldman Sachs sees other companies within the North American market as offering a more compelling combination of growth and returns, specifically pointing to PTEN as a preferred option.
The price target of $19.00 reflects Goldman Sachs' assessment of LBRT's stock value, based on their analysis of the company's financials and market position. This target is indicative of where the firm believes the stock will trade in the near future.
Investors and market watchers will likely monitor Liberty Oilfield Services' performance in relation to this new rating and price target. The company's actions, particularly its share repurchase program, will be of interest as they unfold in the context of Goldman Sachs' coverage.
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