Shares of Liberty Oilfield Services Inc. (LBRT) plummeted 5.05% in pre-market trading on Tuesday, following a significant price target cut by Barclays. The move highlights growing concerns about the company's near-term prospects in the energy sector.

Barclays analyst Eddie Kim lowered the firm's price target on Liberty Energy to $14 from $16, representing a 12.5% reduction. This adjustment appears to have triggered a sell-off among investors, leading to the sharp decline in the stock's value. Despite the lower price target, it's worth noting that Kim maintained an Overweight rating on Liberty Energy shares, suggesting a still-positive long-term outlook for the company.

The market's strong reaction to the price target cut underscores the sensitivity of energy sector stocks to analyst assessments, particularly in the current economic climate. Investors will likely be watching closely for any further analyst updates or company announcements that could provide more insight into Liberty Oilfield Services' future performance and potential recovery.