RBC Capital raised the firm’s price target on Kodiak Gas Services (KGS) to $40 from $35 and keeps an Outperform rating on the shares. The company reported strong Q3 results and raised its 2024 adjusted EBITDA guidance as demand for compression horsepower remains strong, the analyst tells investors in a research note. Favorable market dynamics and growing natural gas demand will continue to drive Kodiak Gas Services’ pricing and utilization higher, RBC added.
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