Liberty Energy

LBRT · NYSE

$16.58−$0.51 (−2.98%)TodayMarket closed · Oct 20, 7:51 PM ET

Prev close $17.09

LBRT analyst rating

BuyConsensus of 11 analysts over the last 12 months. 64% rate it a buy.

Strong buy0
Buy7
Hold4
Underperform0
Sell0

12-month price target · 15 analysts

Average $28.69 (+73.0% upside)

Low: $19.19
Now: $16.58
High: $37.80

Upgrades and downgrades

The latest rating actions, newest first

LBRT analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Piper Sandler	Oct 19, 2026	Maintains	Overweight	$30.00 → $29.00	46%
Morgan Stanley	Oct 14, 2026	Maintains	Overweight	$30.00 → $28.00	55%
Citigroup	Sep 30, 2026	Maintains	Buy	$28.50 → $27.50	48%
UBS	Sep 30, 2026	Maintains	Buy	$35.00 → $31.00	55%
Scotiabank	Sep 29, 2026	Initiates	Sector Perform	$19.00	88%
Barclays	Sep 28, 2026	Upgrade	Equal-Weight → Overweight	$23.00 → $27.00	51%
UBS	Sep 14, 2026	Maintains	Buy	$34.00 → $35.00	55%
Piper Sandler	Aug 27, 2026	Maintains	Overweight	$34.00 → $30.00	46%
Stifel	Jul 27, 2026	Maintains	Buy	$37.00 → $36.00	51%
Piper Sandler	Jul 24, 2026	Maintains	Overweight	$38.00 → $34.00	46%

The case for and against

Updated Oct 14, 2026

Bull case

Liberty Energy is viewed positively because its core fracturing franchise is showing stronger utilization, record pump hours and horsepower hours, improving pricing, and better fixed-cost absorption, while 2Q26 revenue of $1,189 million and adjusted EBITDA of $151.1 million both beat expectations. Its vertically integrated model, including wireline, proppant logistics, and lower-emission technologies like digiFrac and SLXRRY, supports margins, customer retention, and a cleaner fleet profile in a tight U.S. market. The company’s long-duration power opportunity, backed by partnerships such as PowerBridge, SLB, and Wärtsilä, plus $1.0 billion of cash and credit liquidity expected to last until early-2027, provides a credible path to value creation as contracts firm up.

Bear case

Liberty Energy is viewed negatively because its core pressure pumping business delivered only $151MM of adjusted EBITDA and 12.7% margins, with incremental margins of just 15% despite near-full utilization and stable activity. The muted 3Q26 tone, softer pricing conviction, and a higher mix of low-margin consumables suggest limited operating leverage, while 2026 capital expenditures have risen to about $1.5 billion and net debt increased by $157 million to $736 million, pressuring near-term free cash flow. Meanwhile, the power-generation strategy adds execution, financing, and cost-inflation risk, including a $5-6 billion spending plan for 3GW by 2029 and skepticism around grid interconnection and long-term customer contracting.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.