JPMorgan analyst Jeremy Tonet initiated coverage of Kodiak Gas Services with an Overweight rating and $24 price target. As a leading contract compression company, Kodiak Gas offers attractive leverage to the “rapid” Permian production growth, the analyst tells investors in a research note. Moreover, the company’s fixed-revenue contracts with top-tier customers insulate it from direct commodity price exposure and drive visibility to cash flow stability, says the firm.
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