CHX Similar Chart Price Prediction
The price of CHX is predicted to go up 5.09%, based on the high correlation periods with OOMA. The similarity of these two price pattern on the periods is 96.71%.
CHX
OOMA
Up: 5.09%Similarity: 96.71%
CHX Revenue Forecast
CHX EPS Forecast
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CHX VS S&P500
Increased focus on production optimization will drive demand for specialty chemicals and artificial lift services, ChampionX's two core competencies.
ChampionX holds a strong position in the offshore specialty chemicals market, which will lead to profitable contracts amid elevated offshore production activity.
ChampionX greatly diversified its product portfolio through the addition of the chemical solutions business, which will increase potential customer touchpoints and foster stickier relationships over time.
CHX Analyst's Forecast
Scott Gruber
Citigroup
Strong Buy
2024-11-14
Price Target
$45 → $40
Upside
+29.53%
Citi lowered the firm's price target on ChampionX to $40 from $45 and keeps a Buy rating on the shares. The firm examined estimate achievability for the large oilfield service companies, seeing slight upside to 2025 EBITDA estimates for Baker Hughes (BKR) and TechnipFMC (FTI) given pricing improvements in backlog and internal initiatives to improve efficiency. The consensus for SLB (SLB) is "clouded by deals underway" and Weatherford (WFRD) bears more uncertainty given its exposure to Mexico and Saudi oil developments, the analyst tells investors in a research note. Citi is is 5% below consensus on Halliburton (HAL) and is furthest below consensus on NOV (NOV) at 9% given lower aftermarket sales and weaker Equipment margins.
