Stifel raised its price target on Cactus, Inc. to $68 from $66 while maintaining a Buy rating, implying nearly 20% upside. The firm increased its 2026-27 forecasts following updated second-quarter guidance, citing higher confidence in both the pressure control and spoolable technologies segments. Cactus acquired a 65% stake in Baker Hughes' Surface Pressure Control business for $365 million in January 2026 and recently raised projected synergy targets by 50% to an annualized $15 million. The company's Pressure Control segment is expected to deliver adjusted EBITDA margins of 22% to 24% in the second quarter, remaining resilient despite the Middle East conflict.
Cactus IncStifel raised price target and maintained Buy rating, citing higher confidence and updated forecasts.
Baker Hughes Co