Archrock assumed with an Overweight at JPMorgan

JPMorgan assumed coverage of Archrock (AROC) with an Overweight rating and $31 price target Strategic leverage to long-term natural gas demand growth, dedicated fleet investments, operational excellence, and well-capitalized producer customers collectively support an attractive contract compression outlook, the analyst tells investors in a research note. The firm says Archrock’s increasing liquids-rich basin exposure and leading balance sheet “fortification” represent its preferred play within the contract compression landscape.