Archrock price target raised to $20 from $18 at RBC Capital

RBC Capital raised the firm’s price target on Archrock to $20 from $18 and keeps an Outperform rating on the shares after its Q4 results. The firm remains positive on the setup of the natural gas compression market, with de-risked capex spend for 2024 as all planned new builds are accounted for and with bookings that have extended into 2025, the analyst tells investors in a research note.