Stifel Upgrades Target Hospitality (TH) to Buy

Stifel analyst Stephen Gengaro upgraded Target Hospitality (NASDAQ: TH) from Hold to Buy with a price target of $11.00 (from $7.50).

The analyst comments: "We are upgrading the shares of Target Hospitality to Buy from Hold, and lifting our target price to $11.00 from $7.50. Our revised target price is based on a scenario analysis that assumes TH will operate 5,000 rooms for data center customers and 3,400 for Government Services over the next few years. Our upgrade follows TH announcing its first foray into the data center business with a two-year contract valued with minimum commitments of $43 million, and our belief that there are several similar deals in TH's pipeline."

For an analyst ratings summary and ratings history on Target Hospitality click here. For more ratings news on Target Hospitality click here.

Shares of Target Hospitality closed at $8.00 yesterday.

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