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Investing.com - Barclays initiated coverage on WaterBridge Infrastructure (NYSE:WBI), a $3 billion market cap company currently trading at $25.52, with an Overweight rating and set a price target of $29.00. The stock has declined over 9% in the past week, according to InvestingPro data.
The research firm highlighted WBI’s "unique competitive advantage" stemming from its access to "ample, contiguous pore space on premier acreage."
Barclays noted that WBI’s business outlook is supported by fee-based, long-term contracts with well-capitalized customers.
The firm also pointed to "visible near-term growth" as a factor in its positive assessment of the infrastructure company.
WaterBridge Infrastructure’s business model features stable revenue streams through its long-term contractual arrangements, which Barclays identified as a key strength supporting its Overweight rating.
In other recent news, several investment firms have initiated coverage on WaterBridge Infrastructure, highlighting its strategic position in the water management sector of the oil and gas industry. Wells Fargo started coverage with an Equal Weight rating, setting a price target of $25.00, noting WaterBridge’s sector-leading growth and ability to capitalize on pore space scarcity. Raymond James offered a more optimistic view with an Outperform rating and a $30.00 price target, emphasizing the company’s role in managing water produced alongside oil and gas extraction in the Delaware Basin. Texas Capital Securities also provided a positive outlook, initiating coverage with a Buy rating and a $32.00 price target, citing the company’s extensive water infrastructure network. Piper Sandler took a more cautious stance with a Neutral rating and a $27.00 price target, acknowledging WaterBridge’s significant presence in the Delaware Basin. Morgan Stanley echoed a similar sentiment with an Equalweight rating and a $32.00 price target, recognizing WaterBridge as a major player in the water infrastructure services market. These recent developments reflect a range of perspectives on WaterBridge’s potential in the market.
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