Citi ups ChampionX target, opens ‘positive catalyst watch’

Citi analyst Scott Gruber raised the firm’s price target on ChampionX to $40 from $36 and keeps a Buy rating on the shares. The analyst also opened a "positive catalyst watch" on the stock into the company’s analyst day on March 7. ChampionX will provide a "compelling narrative" around its growth opportunities, layered atop a solid core business that is capital-light with less volatility than peers, the analyst tells investors in a research note.