Nine Energy Service's Solid Financial Performance Prompts 16% Price Target Boost By This Analyst
Nine Energy Service's Solid Financial Performance Prompts 16% Price Target Boost By This Analyst
九能源服務的穩健財務表現促使該分析師的目標價格提振 16%
- EF Hutton analyst Ignacio Bernaldez reiterated a Buy rating on Nine Energy Service Inc (NYSE:NINE) and raised the price target from $15.5 to $18.
- The analyst has raised the price target based on a 8x EV/EBITDA multiple of the 2023 EBITDA estimate. The previous price target was based on 7x of EBITDA estimate.
- The analyst has increased the valuation multiple to 8x based on three main factors.
- First, the analyst sees the entire oilfield services industry re-rate to a modestly higher multiple. Six months ago, the PHLX Oil Service Sector Index (OSX) had an EV/EBITDA multiple of 9.99x on July 12, 2022, which increased to an 11.59x multiple on January 12, 2023.
- Secondly, based on NINE's especially strong financial performance over the past two quarters, including surpassing the EPS and cash flow estimates, the analyst now also sees NINE as re-rating to a higher valuation level relative to its peer group.
- Third, based on strong financial performance, a strong macro-backed increase in activity levels in OFS across the U.S. and especially in the Permian Basin, the analyst has become even more confident that NINE will reach or surpass 2023 EPS and cash flow estimates.
- The company's capital-light product and geographic diversity offer an opportunity to further secure market share in a landscape experiencing increased momentum across activity and spending, added the analyst.
- NINE has material debt maturities over the next 12 months and repayment or re-financing successfully is key in maximizing equity value, said the analyst.
- Price Action: NINE shares are trading higher by 0.06% at $16.20 on the last check Friday.
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- EF 赫頓 分析師伊格納西奧·伯納爾德斯重申買入評級 九能服股份有限公司 紐約證交所代號：9）並將目標價格從 15.5 美元提高至 18 美元。
- 該分析師根據 2023 年 EBITDA 估計的 8 倍 EV/EBITDA 倍數提高了價格目標。之前的價格目標是根據 EBITDA 估計值的 7 倍。
- 根據三個主要因素，分析師將估值倍數增加到 8 倍。
- 首先，分析師認為整個油田服務行業重新評價為適度更高的倍數。六個月前，PHLX 石油服務業指數（OSX）於 2022 年 7 月 12 日的 EV/EBITDA 倍數為 9.99 倍，於 2023 年 1 月 12 日升至 11.59 倍倍數。
- 其次，根據 NINE 在過去兩季的財務表現特別強勁，包括超過每股盈餘和現金流量估計，分析師現在還認為 NINE 相對於其同業集團重新評估至較高的估值水平。
- 第三，基於強勁的財務表現，宏觀支持 OFS 在美國，尤其是二疊紀盆地的活動水平強勁增長，該分析師變得更加有信心，NINE 將達到或超過 2023 每股收益和現金流估計。
- 該分析師補充說，該公司的輕資本產品和地理多樣性提供了一個機會，以進一步確保市場份額在活動和支出增加的情況下獲得市場份額。
- 分析師表示，NINE 在未來 12 個月內有重大債務到期，成功還款或再融資是最大化股票價值的關鍵。
- 價格行動： 九股在上次檢查星期五上漲 0.06%，為 16.20 美元。
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