BUZZ-ProPetro gains after JP Morgan upgrades rating to 'overweight'
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JP Morgan upgraded ProPetro's stock rating to "overweight" from "neutral," raising the price target to $13, citing growth potential in the PROPWR segment. Shares rose 2.1% premarket to $11.20. The upgrade is based on expected EBITDA growth from increased capacity. Three brokerages rate the stock "buy" or higher, with a median price target of $12. PUMP shares are up 17.5% YTD.
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