Solaris Energy Infrastructure price target raised to $50 from $37 at Piper Sandler

Piper Sandler raised the firm’s price target on Solaris Energy Infrastructure (SEI) to $50 from $37 and keeps an Overweight rating on the shares.The firm notes it was an impressive day for Solaris Energy on Friday, with shares rising 23% despite no multiple expansion, as the company doubled its fleet size to 1.4GW after ordering an additional 700MW. More importantly, SEI announced a 500MW 6-year data center contract formed inside a JV with attractive economics at $300k/EBITDA/year, which implies 3-year payback on $0.9mm/MW, Piper adds.