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UPDATE: Williams Raises PT on Natural Gas Services Post Beat on Sales, Rental Growth


Williams Financial Group maintained Natural Gas Services (NYSE: NGS) with a Buy rating and raised the price target from $21.00 to $23.00.

Williams Financial Group analyst Matt Beeby wrote, "NGS reported 4Q EPS ahead of expectations on Sales segment strength as Rental segment revenue wasin line.Oil‐directed activity now consumes 35% of NGS activity, and the company should further benefit from increased VRU demand in coming years as well. Rental utilization trends (+200bps q/q)should continue toward 80% by year‐end (77% at 4Q end) with idle unit reactivation, even as the company builds new units. Furthermore, we believe Rental segment margins will move higher as well (to 60% by year end)."

Natural Gas Services closed at $18.30 on Thursday.

Latest Ratings for NGS

Aug 2019Imperial CapitalMaintainsOutperform
Jan 2019Maxim GroupInitiates Coverage OnBuy
Jun 2018ArgusMaintainsBuyBuy

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Posted-In: Williams Financial GroupAnalyst Color Price Target Analyst Ratings

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