B.Riley FBR analyst Tom Curran reiterated a Buy rating on Tetra Technologies (NYSE: TTI) today and set a price target of $8. The company’s shares opened today at $4.70, close to its 52-week high of $4.87.
Curran observed:
“TETRA Technologies (TTI) delivered a solid 2Q beat, lifted its 2018 revenue and adj. EBITDA guidance, and shared bullish updates for each of its divisions. This hat trick of positives directly reinforces our thesis: TTI’s exposure to three end markets with different, but invariably exciting, growth drivers—new generation water services, deepwater completion fluids, and contract compression—should enable it to increase adj. consolidated EBITDA at a 28% CAGR in 2016-2019 with clear potential upside. We’re lifting our 2018 revenue/adj. EBITDA from $966M/ $181M to $1.00B/$189M, leaving our 2019 estimates the same, expecting consensus to rise closer to them, and reiterating our Buy rating and sum-of-the-parts derived $8 PT.”
According to TipRanks.com, Curran is ranked 0 out of 5 stars with an average return of -3.0% and a 50.3% success rate. Curran covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Select Energy Services Inc, and Diamond Offshore Drilling.
Tetra Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $7.
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The company has a one-year high of $4.87 and a one-year low of $1.85. Currently, Tetra Technologies has an average volume of 671K.
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TETRA Technologies, Inc. is a geographically diversified oil and gas services company, engages in the completion of fluids and associated products and services. It operates through the following segments: Fluids, Production Testing, Compression, and Offshore.
