Atlas Energy Solutions Inc (AESI) PT Lowered to $25 at Piper Sandler

Piper Sandler analyst Luke Lemoine lowered the price target on Atlas Energy Solutions Inc (NYSE: AESI) to $25.00 (from $29.00) while maintaining a Overweight rating.

The analyst commented, "We've updated a few target price changes as we orient around 2 - 5 year median multiples on our '25 estimates ..Overweight, increasing PT to $29 from $25 based on 4.9x (4.7x prior) '26e ('25e prior) EV/EBITDA (assuming $748M EBITDA, 2Q24e $411M net debt, 110M fully diluted shares) to allow for a greater capture of an optimized Dune Express. Risks: Dune Express execution, oversupply of in-basin sand, oil and gas macro outlook, limited float."

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