Northland analyst Greg Gibas raised the firm’s price target on Target Hospitality (TH) to $11 from $9 and keeps a Market Perform rating on the shares. Q3 results were ahead of the firm’s and consensus expectations, driven by stronger than expected performance in its government and energy segments, notes the analyst, who is increasing the firm’s price target to reflect the potential upside related to the reutilization of Target’s Dilley asset. However, the firm remains cautious on the utilization of the PCC facility under the new administration, as it continues to generate no variable revenue, the analyst added.
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