Solaris Energy price target raised to $61 from $50 at Northland

Northland analyst Bobby Brooks raised the firm’s price target on Solaris Energy (SEI) to $61 from $50 and keeps an Outperform rating on the shares. The “main driving factor” in the price target hike is an increased multiple the firm applies to its FY27 net Power adjusted EBITDA estimate, the analyst tells investors. Solaris’ upsized $650M convertible leaves the company with about $130M in dry powder, further improving flexibility, says the analyst, who continues to see Solaris as “in the early innings of a major growth story.”