Loading...
Loading...
In a report published Monday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating and $35.00 price target on
Natural Gas Services GroupNGS.
In the report, Wunderlich Securities noted, “Natural Gas Services Group (NGS) continues to trade with the greater OFS group (i.e., poorly) despite the fact that it has a differentiated business model that should allow it to maintain solid utilization and generate ample cash flow even if the doomsday scenario of $60/bbl or $70/bbl oil does come into play. The biggest reason for our conviction in this matter is the fact that this exact situation happened to NGS just a few years ago with the natural gas markets, and NGS has not only kept solid utilizations in the gas plays the last five years but also found other areas of growth to utilize its ample cash flows and expand operations. While we do not expect the doomsday scenario, we believe NGS has the ability to thrive in that market as well.”
Natural Gas Services Group closed on Friday at $23.72.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in