BUZZ-Target Hospitality falls as PE backer to offload shares

Target Hospitality Corp.
Morgan Stanley

Target Hospitality Corp.

TH

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Morgan Stanley

MS

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** Workforce accommodation firm Target Hospitality TH.O shares down 4.6% in extended trading to $17.48 after secondary offering news

** The Woodlands, Texas-based TH launches 7 mln share offering by entities controlled by private equity firm TDR Capital

** Morgan Stanley and Deutsche Bank are bookrunners

** TH has ~100.2 mln shares outstanding

** TDR reduced its holdings last month in secondary offering priced at $14

** TH's stock edged down 2 cents to close at $18.33 on Weds. Stock up 159% over the past three months and 129% YTD

** Avg rating of 4 analysts is "strong buy"; median PT of $22 up from $16.50 a month ago, per LSEG data


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