Citi analyst Scott Gruber downgrades $AESI Holdings (AESI.US)$ to a hold rating, and adjusts the target price from $23 to $22.
According to TipRanks data, the analyst has a success rate of 56.5% and a total average return of 12.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $AESI Holdings (AESI.US)$'s main analysts recently are as follows:
Atlas Energy has been a notable performer in the oilfield services sector this year, with a 25% increase in stock price, largely due to the anticipated growth from the initiation of their Dune Express sand conveyor by 2025. However, this share price appreciation has come even as the company's fundamentals in the sand production segment have significantly weakened. This disconnection has led to the stock reaching what is perceived as a full valuation.
Atlas Energy's 42-mile Dune Express conveyor system stands out in the highly commoditized proppant market of energy services. However, the anticipated EBITDA increase for 2025, following the system's activation in the fourth quarter, is now projected to be less than initially expected. This assessment is based on actual figures from the third quarter, the company's guidance for the fourth quarter, and management's forecast for tonnage in the following year.
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