Mizuho Securities Starts Matador Resources Company (MTDR) at Neutral
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Mizuho Securities initiates coverage on Matador Resources Company (NYSE: MTDR) with a Neutral rating and a price target of $25.00.
Analyst Timothy Rezvan commented, "Buster Poindexter references may be lame, but industry interest for Delaware Basin acreage is anything but lame. Matador has benefitted from an industry-wide land grab for core acreage on the Permian's western flank. We like management and the company's acreage footprint, but see no near-term idiosynacratic catalysts for MTDR shares. We believe expectations for a sale of Rustler Breaks is reflected in the stock, whose multiple looks rich (14x 2017E EV/EBITDA, four turns above group average)."
Shares of Matador Resources Company closed at $22.99 yesterday.
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