JPMorgan initiated coverage of Select Water Solutions, Inc. with an Overweight rating. The bank established a price target of $24.00 per share.
Analysts highlighted the company's specialized water handling solutions for exploration and production operators. The report cites a recycling-first approach and deep contracted acreage as primary pillars for the rating.
JPMorgan projects a significant inflection in free cash flow for the firm. Growth is further supported by diversification into industrial and municipal water contracts.