National Energy Services: Piper Sandler Raises PT to $15, Maintains Overweight Rating

National Energy Services: Piper Sandler Raises PT to $15, Maintains Overweight Rating

Piper Sandler has raised its price target for National Energy Services (NES) to $15, maintaining its Overweight rating on the stock. The investment firm highlighted several key factors supporting its bullish stance on the company, despite the stock's premium valuation.

According to Piper Sandler, NES's robust visibility into future revenue and strong momentum in commercial bookings are key drivers for the price target increase. The firm noted that NES's commercial segment has delivered triple-digit booking growth so far this year, indicating sustained demand for the company's services, according to an Asianet News report.

Another significant factor is NES's substantial role in the U.S. defense ecosystem. With access to a share of the nation’s $1 trillion defense budget, the company is well-positioned to continue scaling operations and deepening its government relationships. This strategic positioning provides an unparalleled wallet share opportunity, further supporting the firm's optimistic outlook, the report noted.

Piper Sandler also cited NES's recent earnings report, which exceeded analyst expectations. The company reported a Q3 revenue between $1.083 billion and $1.087 billion, compared to the analysts' consensus estimate of $1.09 billion. This strong performance underscores NES's ability to deliver consistent growth and profitability, the report added.

The stock has gained over 136% in 2025 and over 311% in the last 12 months, reflecting investor confidence in the company's growth prospects. Despite the high expectations baked into the stock's price, Piper Sandler believes NES's growth trajectory is far from peaking, supporting its bullish stance, the report said.