Natural Gas Services price target raised to $26 from $18 at Stifel

Stifel analyst Selman Akyol raised the firm’s price target on Natural Gas Services to $26 from $18 and keeps a Buy rating on the shares. Natural Gas reported Q4 results above the firm’s estimates and its adjusted EBITDA guidance was roughly 32% above 2023 results at the midpoint, as well as guiding capex to moderate in 2024, the analyst tells investors in a research note. Management also laid out its growth outlook, which included optimizing existing units, growing utilization, expanding the fleet with an emphasis on large HP units, and M&A, the firm says.