Archrock price target raised to $46 from $40 at Raymond James

Raymond James analyst James Rollyson raised the firm’s price target on Archrock (AROC) to $46 from $40 and keeps an Outperform rating on the shares. The quarter was broadly positive with compression contract operations outperforming expectations despite asset sales, AMS revenue coming in slightly below estimates due to seasonal variability, and consolidated adjusted EBITDA finishing about 2% ahead of consensus, alongside continued strong free cash flow generation and ongoing shareholder returns through an increased dividend and share repurchases exceeding half of quarterly free cash flow, the analyst tells investors in a research note.