Target Hospitality

TH · NASDAQ

$15.47+$0.15 (+0.98%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $15.32

TH analyst rating

BuyConsensus of 3 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy3
Hold0
Underperform0
Sell0

12-month price target · 9 analysts

Average $26.86 (+73.6% upside)

Low: $23.23
Now: $15.47
High: $33.60

Upgrades and downgrades

The latest rating actions, newest first

TH analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Morgan Stanley	Sep 14, 2026	Maintains	Overweight	$22.00 → $25.00	42%
Oppenheimer	Sep 8, 2026	Maintains	Outperform	$24.00 → $27.00	46%
Morgan Stanley	Aug 17, 2026	Initiates	Overweight	$22.00	42%
Oppenheimer	Jul 14, 2026	Maintains	Outperform	$21.00 → $24.00	46%
Oppenheimer	May 13, 2026	Maintains	Outperform	$18.00 → $21.00	46%
Oppenheimer	Apr 9, 2026	Maintains	Outperform	$11.00 → $18.00	46%
Stifel	Apr 6, 2026	Maintains	Buy	$11.00 → $15.00	51%
Oppenheimer	Mar 17, 2026	Upgrade	Perform → Outperform	$11.00	46%
Stifel	Dec 30, 2025	Maintains	Buy	$11.00	51%

The case for and against

Updated Oct 15, 2026

Bull case

Target Hospitality is benefiting from a successful pivot toward Workforce Hospitality Solutions, where its turnkey remote accommodations model for data centers and related power generation projects is producing large, long-dated, and highly visible revenue streams. Since February 2025, the company has announced contracts expected to generate about $482 million of guaranteed annualized leasing revenue, with three wins since April adding 8,470 beds and keeping its pipeline above 20,000 beds. That momentum supports rising estimates for 2026 and 2027 adjusted EBITDA to $110 million and $250 million, while the shift toward higher-ADR hyperscaler contracts and limited capex needs strengthens margins, returns, and valuation potential.

Bear case

Target Hospitality is viewed negatively because its investment case depends heavily on winning new contracts, yet there is a perceived risk that reputation, asset procurement, labor availability, or other operational issues could limit new business generation. Its vertically integrated model across specialty rental and hospitality services also creates execution risk, since a failure to manage, maintain, or renew existing contracts would directly pressure revenue stability and utilization across HFS-South, WHS, and Government. In addition, poorly sourced or poorly integrated M&A could compound these challenges by distracting management, weakening operational consistency, and increasing the chance of underperforming assets or stranded capital.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.