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Added to YB: 2026-02-26

Pitch date: 2026-02-25

TH [bullish]

Target Hospitality Corp.

Author Info

Guasty Winds is a former L/S hedge fund analyst turned full-time private investor. Sign up for the newsletter.

Company Info

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America.

Market Cap

$652.6M

Pitch Price

N/A

Price Target

N/A

Dividend

N/A

EV/EBITDA

7.02

P/E

-65.76

EV/Sales

2.02

Sector

Hotels, Restaurants and Leisure

Category

growth

Show full summary:
I bought a starter position in Target Hospitality $TH

TH: Builds/maintains remote housing communities, 50% Permian market share. Pivoting to data centers - signed first DC deal Aug '24 (1,050 beds), plus gas plant & mining projects. Run-rate ~$100M EBITDA, ~$65-70M FCF at 65% utilization. ~15K bed DC pipeline; full utilization implies ~$220M EBITDA, ~$160M FCF. $660M mkt cap, $30M net cash = ~9x FCF on contracts, potentially 3-4x if pipeline converts. TDR Capital (64.5% owner) chairman bought $2M stock 20% above current price. Limited downside, asymmetric upside.

Read full article (3 min)