Evercore ISI raised the firm’s price target on Aris Water Solutions (ARIS) to $25 from $20 and keeps an Outperform rating on the shares after the company reported “solid” Q3 results and management increased its 2024 adjusted EBITDA guidance “again.” The next leg for the stock will come as the company proves its strong 2024 margin performance is sustainable into 2025, says the analyst, who adds “we think it is,” and as free cash flow supports additional shareholder returns.
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Read More on ARIS:
- Aris Water Solutions rises 25.9%
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- Aris Water Solutions rises 14.6%
- Aris Water Solutions reports Q3 adjusted EPS 34c, consensus 30c
- Aris Water Solutions raises FY24 adjusted EBITDA view to $208M-$212M
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