Tetra Technologies price target raised to $9 from $8 at EF Hutton

EF Hutton raised the firm’s price target on Tetra Technologies to $9 from $8 and keeps a Buy rating on the shares. The analyst says the company last week achieved an important milestone when the Arkansas Oil and Gas Commission approved Tetra’s application to construct a brine production unit in the Smackover Formation in Southwest Arkansas for the potential production of brine and lithium. The firm says the bromine development project could add $41M of additional EBITDA. EF raised the price target after rolling over its valuation to 2024 estimates.