LandBridge: I'm Betting My Reputation On This One

Leo Nelissen50.03K FollowersFollow5ShareSavePlay(19min)Comment(1)SummaryLandBridge remains a core holding, with a bullish outlook supported by robust earnings, superior margins, and a compelling land-based royalty model.LB’s 2026 EBITDA guidance of $205-$225M exceeds prior expectations, reflecting 20% YoY growth and 89% adjusted-EBITDA margins, underscoring operational leverage.The data center and power infrastructure thesis is accelerating, with key agreements (NRG, Samsung, ONEOK) laying the groundwork for long-term commercial upside.I maintain a $105–$120 2028 price target, citing premium valuation justified by high-margin growth, expanding SUEE, and improving management communication. grandriver/iStock via Getty Images Introduction If you have been a regular reader of mine for more than a couple of weeks, it may not come as a surprise when I say that I’m extremely bullish on LandBridge (LB) and Texas Pacific Land (This article was written byLeo Nelissen50.03K FollowersFollowLeo Nelissen is a long-term investor and macro-focused strategist with a passion for dividend growth, high-quality compounders, and structural investment themes. He combines big-picture macro analysis with bottom-up stock research to identify durable businesses with strong cash-flow potential. Leo also writes for Main Street Alpha, where he publishes deeper-dive research and actionable investment ideas for long-term investors.Analyst’s Disclosure: I/we have a beneficial long position in the shares of TPL, LB either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.