ProPetro gains after BofA starts coverage with 'buy' rating

ProPetro Holding

30/03/2026 15:38

** Shares of oilfield services company ProPetro Holding PUMP.N up 3.7% at $15.23 after BofA Securities started coverage with a "buy" rating

** Brokerage says company is set to benefit from a recovery in U.S. oilfield activity, especially in completions, from 2027

** PUMP's core completions business is expected to generate strong cash, which can help fund growth in its power unit, PROPWR

** BofA forecasts PUMP's completions unit's free cash flow growing to $170 million in 2027 from estimated $94 million in 2026

** For PROPWR, brokerage expects adj. EBITDA of about $9 million in 2026, $94 million in 2027 and $158 million in 2028

** BofA sets Price Objective of $18, a premium of 22.5% to PUMP's last close

** 5 of 10 brokerages rate the stock "buy" or higher and 5 "hold"; their median PT is $14.00, according to data compiled by LSEG

** PUMP stock up about 60% this year

 (Reporting by Arunima Kumar in Bengaluru)

 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))