Archrock initiated with an Overweight at Wells Fargo

Wells Fargo initiated coverage of Archrock (AROC) with an Overweight rating and $30 price target The firm says Archrock is a play on growing U.S. gas supply given its “leading position” in contract compression. The company is positioned to benefit from growing U.S. gas supply driven by liquified natural gas, rising artificial intelligence datacenter power demand, and onshoring of manufacturing, the analyst tells investors in a research note.