Raymond James Downgrades Select Water Solutions, Inc (WTTR) to Outperform

Raymond James analyst James Rollyson downgraded Select Water Solutions, Inc (NYSE: WTTR) from Strong Buy to Outperform with a price target of $26.00 (from $24.00).

The analyst comments: “History repeated with another solid outperformance by Select as several things came through stronger than expected, including its best ever revenue quarter for Chemical Technologies. Consolidated EBITDA topped expectations by more than a mid-teens percentage, as 3Q26 guidance was similarly above consensus views. The company is likely to run into some seasonal factors in 4Q26 that ratchet the EBITDA run-rate back a bit before we enter 2027 and move higher. We have been long-term bulls on the shares and still expect there is meaningful future upside. That said, the recent run in share price has dramatically narrowed the valuation gap. We’re downgrading our rating to an Outperform as meaningful upside starts to rely on a number of wins that should stack up over a period of time. Our updated target price is $26/share.”

For an analyst ratings summary and ratings history on Select Water Solutions, Inc click here. For more ratings news on Select Water Solutions, Inc click here.

Shares of Select Water Solutions, Inc closed at $22.26 yesterday.

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