UPDATE: Northland Capital Markets Transfers Coverage on Target Hospitality (TH), Upgrades to Outperform

April 19, 2021 7:52 AM EDT
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Price: $2.30 -4.56%

Rating Summary:
    2 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 26 | Down: 9 | New: 37
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(Updated - April 19, 2021 7:53 AM EDT)

Northland Capital Markets analyst Doug Becker assumes coverage of Target Hospitality (NASDAQ: TH) from Market Perform to Outperform with a price target of $4.00 (from $1.50).

The analyst comments "We are assuming coverage of TH and upgrading the rating to OP from MP based on: (1) an increasing probability of incremental government-backed contracts; (2) a clear path to deleveraging; and (3) increasing oilfield activity. Our PT increases to $4.00 (~40% upside), implying a 2022 EV/EBITDA multiple of 6.25x using forecasted year-end 2021 net debt."

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 $2.88 yesterday.

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Analyst Comments, Analyst PT Change, New Coverage, Upgrades