Solaris Energy initiated with a Buy at Citi

Citi initiated coverage of Solaris Energy (SEI) with a Buy rating and $32 price target Given that the utility sector is “notoriously slow moving and the demand for reliable, round-the-clock power is strong,” Solaris is in an extended period of elevated returns, the analyst tells investors in a research note. The firm says the company is a leader in small-scale, modular power solutions with a “robust go-to-market strategy and an anchor client.” The joint venture with the anchor client shows a commitment to utilizing a portion of capacity longer term, while use case flexibility provides options, contends Citi.