Wall Street Analysts' Take On Black Knight, Penntex Midstream Amid IPO

PennTex Midstream Partners LP PTXP was introduced to the public NASDAQ market on Thursday, June 4th, in a volatile energy sector. The Houston-based company set out 11,250,000 common shares at a unit price of $20 per share. Since its offering, the stock has been fairly steady, only sliding down 1.64 percent. Many analysts started initiating coverage on the stock:

• RBC Capital - Announced a price target (PT) of $22; initiated coverage with an Outperform rating.
• Wunderlich Securities - Announced PT of $23; Buy rating.
• Citigroup - Announced PT of $27; Buy rating.
• Stifel Nicolaus - Initiated coverage with Hold rating.
• SunTrust Bank - Announced PT of $24; Buy rating.
• Wells Fargo - Initiated coverage with Outperform rating.
• Raymond James Financial Inc. - Announced PT of $22; Outperform rating.

SUMMARY: 3 Buy, 3 Outperform, and 1 Hold rating.

Along with PennTex, another stock was attractive to analysts: Black Knight Financial Services Inc BKFS. Black Knight, a holding company that provides technology, data, analytics, and workflow automation was introduced to the New York Stock Exchange on May 19th; Issuing 18 million class A shares at $24.50 per share. Since its hot debut, the stock has been performing fairly well, up about 23.88 percent since its offering. Analysts took coverage on the stock, here’s what they had to say:

• Monness Crespi Hardt & Co. Inc. - Announced PT of $36; Buy rating.
• Stephens Inc. - Announced PT of $34; Equal Weight rating.
• Bank Of America - Announced PT of $33; Neutral rating.
• SunTrust Bank - Announced PT of $36; Buy rating.
• Goldman Sachs - Announced PT of $30; Neutral rating.
• Citigroup - Initiated coverage with Neutral rating.

Summary: 2 Buy, 3 Neutral, and 1 Equal Weight rating.