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Investing.com - Raymond James initiated coverage on WaterBridge Infrastructure (NYSE:WBI) with an Outperform rating and a $30.00 price target on Monday, representing a potential 24% upside from the current trading price of $24.17. The company, with a market capitalization of nearly $3 billion, maintains a "GOOD" financial health score according to InvestingPro data.
The investment firm identified WBI as an attractive investment opportunity in the oil and gas industry’s water management sector, particularly for handling water produced alongside oil and gas extraction in the Delaware Basin.
Raymond James highlighted WBI’s premium characteristics, including growth potential and a beneficial relationship with sister company LandBridge, as key factors supporting its positive outlook on the stock.
The firm noted WBI’s robust long-term opportunity to capture additional market share in the water management space, an area of growing importance within the energy sector.
Despite acknowledging current uncertainty in commodity prices, Raymond James expressed confidence in WaterBridge Infrastructure’s long-term business prospects, leading to its Outperform rating.
In other recent news, WaterBridge Infrastructure has garnered attention from several major financial firms as they initiate coverage on its stock. Texas Capital Securities has given WaterBridge a Buy rating, setting a price target of $32.00, highlighting the company’s significant presence in the Delaware Basin’s produced water sector. Stifel also rated the stock as a Buy, with a price target of $30.00, emphasizing the economic benefits of WaterBridge’s produced water disposal services. Meanwhile, Morgan Stanley rated the stock as Equalweight with a $32.00 price target, noting its role as a pure-play water infrastructure service provider.
Piper Sandler initiated coverage with a Neutral rating and a $27.00 price target, acknowledging WaterBridge’s status as a leading water infrastructure company in the Delaware Basin. Similarly, Goldman Sachs gave WaterBridge a Neutral rating, but with a lower price target of $21.00, pointing out the company’s strong relationship with LandBridge and its underground disposal capacity. These recent developments reflect the diverse perspectives of analysts regarding WaterBridge Infrastructure’s market position and future prospects.
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