BofA Securities Downgrades Atlas Energy Solutions Inc (AESI) to Neutral

BofA Securities analyst Chase Mulvehill downgraded Atlas Energy Solutions Inc (NYSE: AESI) from Buy to Neutral with a price target of $22.50.

The analyst comments "Permian frac sand demand in 2024 was at an all-time high, yet the influx of new supply put downward pressure on pricing throughout 2024. We believe contract pricing is now at $16-$19/ton range (+anecdotes of <$15/ton pricing). Simultaneously, trucking pricing has fallen amidst uptake of new mobile/mini mines. We forecast Permian sand demand staying flat at ~70 MTPA in 2025E/26E, which doesn’t allow for pricing recovery, in our view. We cut our 2025E/26E Adj. EBITDA to $360/$425mm (-14%/-10% vs. consensus) and downgrade from Buy to Neutral."

For an analyst ratings summary and ratings history on Atlas Energy Solutions Inc click here. For more ratings news on Atlas Energy Solutions Inc click here.

Shares of Atlas Energy Solutions Inc closed at $21.76 yesterday.

You May Also Be Interested In

• Bernstein SocGen Group Starts Terawulf Inc. (WULF) at Outperform
• Goldman Sachs Downgrades Oddity Tech Ltd (ODD) to Sell, Chops PT in Half
• Meta plans 'Hatch' AI agent priced at up to $200/month - The Information