Kodiak Gas Services initiated with a Buy at Truist

Truist analyst Neal Dingmann initiated coverage of Kodiak Gas Services with a Buy rating and $24 price target, citing Kodiak’s “highly visible, stable growth” moderately tied to commodity prices and what the firm sees as the potential for significant upside given future compression needs for LNG and other commodity tailwinds. Much of Kodiak’s customer base consists of the largest, most stable operators and the company has peer leading operational execution with virtually no downtime, the analyst added.