Kodiak Gas Services price target raised to $35 from $32 at Truist

Truist analyst Neal Dingmann raised the firm’s price target on Kodiak Gas Services to $35 from $32 and keeps a Buy rating on the shares. The company’s Q2 adjusted EBITDA exceeded estimates as it not only saw upside from high margin new equipment deployed but also saw similar upside in recontracted equipment that came up for renewal, the analyst tells investors in a research note. Truist adds that it is forecasting a stronger than prior 2025 run rate driven by increment new high margin assets, improved organic results, and a continuation of synergies.