UPDATE: Stifel Upgrades Matador Resources Company (MTDR) to Buy

(updating comment)

Stifel analyst Michael Scialla upgraded Matador Resources Company (NYSE: MTDR) from Hold to Buy with a price target of $12.00 (from $8.00).

The analyst comments "We are raising our rating to Buy from Hold and updating our target price to $12 from $8. The change is based on our updated oil price forecast and risk adjustments to our NAV/share estimate of $14.40 (Figure 1). While our oil price outlook remains tempered by the global pandemic's lingering demand impacts, it has improved since early March when we downgraded the stock to Hold."

For an analyst ratings summary and ratings history on Matador Resources Company click here. For more ratings news on Matador Resources Company click here.

Shares of Matador Resources Company closed at $8.66 yesterday.

You May Also Be Interested In

• New Street Research Upgrades Micron Technology (MU) to Buy
• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
• Va Tech Wabag Ltd. (VATW:IN) PT Raised to INR2,410 at ICICI Securities