ProPetro gains after BofA starts coverage with 'buy' rating

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