Matador Resources Company (MTDR) PT Raised to $78 at Stephens

Stephens analyst Mike Scialla raised the price target on Matador Resources Company (NYSE: MTDR) to $78.00 (from $76.00) while maintaining a Overweight rating.

The analyst commented: "Our updated 3Q CFPS, production, and capex estimates are 4% below, 1% below, and 4% above consensus. Our 3Q production estimate is slightly above the midpoint of guidance, in light of the company's history of beating its projections. We suspect consensus could move lower as analysts update realized natural gas price estimates. We are tweaking our NAV/share and target price to $78 from $76. 3Q conference call commentary will likely focus on declining well costs, FCF priorities, integration of the Ameredev II acquisition, Permian natural gas markets, and management's outlook for 2025."

You May Also Be Interested In

• JBS SA (JBS) PT Lowered to $21 at Morgan Stanley
• Paychex (PAYX) PT Raised to $153 at TD Cowen
• Goldman Sachs Starts JBS SA (JBS) at Buy