Piper Sandler Upgrades Rating to Overweight for ChampionX, Raises Price Target To $30

Piper Sandler upgraded its rating of ChampionX CHX to Overweight with a price target of $30.00, changing its price target from $28.00 to $30.00.

Shares of ChampionX are trading down 0.67% over the last 24 hours, at $23.66 per share.

A move to $30.00 would account for a 26.8 increase% shift from the current share price.

About ChampionX

ChampionX Corp helps companies drill for and produce oil and gas safely and efficiently. The company operates in four segments: Production Chemical Technologies, which offers products and services that cover a broad range of onshore and offshore chemical solutions in production and midstream operations; Production & Automation Technologies offers artificial lift equipment, end-to-end automation, and digital solutions, as well as other production equipment, it also offers automation and optimization hardware and software; Drilling Technologies includes polycrystalline diamond cutter ("PDC") inserts, bearings, valves, and mining tools; and Reservoir Chemical Technologies. The Chemical & Automation segments both generate the majority of the revenue for the company.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.