RBC Capital raised the firm’s price target on Kodiak Gas Services (KGS) to $40 from $35 and keeps an Outperform rating on the shares. The company reported strong Q3 results and raised its 2024 adjusted EBITDA guidance as demand for compression horsepower remains strong, the analyst tells investors in a research note. Favorable market dynamics and growing natural gas demand will continue to drive Kodiak Gas Services’ pricing and utilization higher, RBC added.
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Read More on KGS:
- Camping World among small-cap dividend stocks with juicy returns, Barron’s says
- Kodiak Gas Services price target raised to $40 from $35 at Truist
- Kodiak Gas Services Reports Record Q3 2024 Results
- Kodiak Gas Services reports Q3 EPS (7c), consensus 37c
- Kodiak Gas Services sees FY25 adjusted EBITDA $675M-$725M
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