Stifel analyst Stephen Gengaro lowered the firm’s price target on Target Hospitality to $13 from $14 and keeps a Buy rating on the shares. While the renewal of the pivotal Pecos Children’s Center contract was at worse terms than the firm anticipated, the company remains well positioned to deliver strong free cash flow in 2024-25, says the firm, which believes the next catalyst for the stock will likely be tied to announcements around growth opportunities.
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