Deutsche Bank Starts Matador Resources Company (MTDR) at Hold
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Deutsche Bank initiated coverage on Matador Resources Company (NYSE: MTDR) with a Hold rating and a price target of $28.
Analyst Russell Koch said, "At the forefront of Wolfcamp delineation in the northern Delaware basin, MTDR is focused on organic resource growth and value creation through its strategic leasing and development program that continues to build momentum. Still working to understand its full stacked pay potential, MTDR is evolving into a low-cost Permian operator by concentrating capital while trailblazing several resource targets that have become increasingly popular within the industry. However, we see more attractive risk/reward opportunities in MTDR’s peers that possess more appealing catalysts for core inventory growth and multiple expansion in the current commodity environment."
Shares of Matador Resources Company closed at $25.41 yesterday.
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