Archrock price target raised to $27 from $26 at RBC Capital

RBC Capital raised the firm’s price target on Archrock (AROC) to $27 from $26 and keeps an Outperform rating on the shares. The company reported strong Q3 results and raised 2024 guidance as the compression market continues to drive pricing and utilization higher, and the firm believes that the constructive market, combined with Archrock’s technology investments, growth opportunities, and full integration of TOPS assets, provide further margin expansion and cash flow upside, the analyst tells investors in a research note.