Archrock (AROC) PT Raised to $12 at FBR Capital Following 2Q
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Price: $31.80 -1.49%
Rating Summary:
12 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
12 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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FBR Capital raised its price target on Archrock (NYSE: AROC) to $12.00 (from $11.00) while maintaining a Market Perform rating following the company's 2Q. AROC beat consensus, generating revenue and adjusted of $198.0M and $72.3M versus the Street's $196.0M and $66.3M.
FBR increased 2018 adjusted EBITDA and EPS from $336M and $0.03 to $389M and $0.07, respectively. Between 2Q16 and 4Q18, AROC is projected to have generated enough free cash flow to enable APLP to pay down $245 million in debt.
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