Stephens Reiterates Overweight Rating on Atlas Energy Solutions Inc (AESI)

Stephens analyst Michael Scialla reiterated an Overweight rating and $28.00 price target on Atlas Energy Solutions Inc (NYSE: AESI).

The analyst comments "We are lowering our 3Q24, 4Q24, and 2025 EBITDA/CFPS estimates 22%/35%, 39%/42%, and 4%/4% after this morning's release indicating that debottlenecking issues with the Kermit Plant following a 2Q24 fire and recent damage to a new electric dredge negatively impacted 3Q24 costs. On a positive note, commissioning of the Dune Express began this week. The 42-mile conveyor system remains on time and on budget with commercial transportation scheduled to begin in late 4Q24. In light of ongoing operational issues, today's market reaction (stock down 7%) is understandable. Moreover, investors will likely need more proof of the company's ability to execute before the stock begins to reflect what should be a step-change in 2025 FCF."

For an analyst ratings summary and ratings history on Atlas Energy Solutions Inc click here. For more ratings news on Atlas Energy Solutions Inc click here.

Shares of Atlas Energy Solutions Inc closed at $21.65 yesterday.

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