LandBridge price target raised to $88 from $73 at Goldman Sachs

Goldman Sachs raised the firm’s price target on LandBridge (LB) to $88 from $73 and keeps a Buy rating on the shares. The firm sees further upside for the company based on its disclosures in Q4 results regarding its revenue potential per acre as well as new third-party contracts, the analyst tells investors in a research note. The firm adds that its view remains that high operating leverage drives the value proposition for surface acreage with data centers, noting that its new price target is based on a higher EBITDA multiple of 33-times that’s in line with its peer Texas Pacific Land (TPL).