Janney starts Solaris Energy at Buy with $57 fair value estimate

As previously reported, Janney Montgomery Scott initiated coverage of Solaris Energy (SEI) with a Buy rating and $57 fair value estimate. Through the company’s mid-2024 acquisition of Mobile Energy Rentals, the Houston-based energy and logistics service company now owns and operates a fleet of mobile NG-fired turbines and is expanding rapidly to meet load growth, the analyst tells investors. As announced with Q4 earnings, Solaris is in the process of forming a joint venture with its data center customer and the JV will own about 500 MW of capacity, leasing it to the data center partner, and while the exact details are still forthcoming, the arrangement “creates several positives,” the analyst added.