UPDATE: D.A. Davidson Initiates Coverage on Exterran on Market Leader Position
In a report published Friday, D.A. Davidson & Co. analyst Tristan Richardson initiated coverage on Exterran Holdings (NYSE: EXH) with a Neutral rating and $35.00 price target.
In the report, D.A. Davidson & Co. noted, “Largest provider of field compression services in the U.S., with an extensive fleet of equipment in North America and several international markets. The company also engineers and fabricates compression units both for its own fleet and for sale to customers. Over the long term, new investment in oil & gas exploration will drive Exterran's business. Exploration in what was once thought of as unconventional developments and technological improvements have led to increased production, particularly in North America. Exterran is well positioned to benefit from new investment in gathering lines, new wells, processing plants and other infrastructure as a leading provider of compression leasing and fabrication services.”
Exterran Holdings closed on Thursday at $32.78.
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