Talos Energy (TALO) PT Lowered to $20 at Stephens

Stephens analyst Mike Scialla lowered the price target on Talos Energy (NYSE: TALO) to $20.00 (from $21.00) while maintaining a Overweight rating.

The analyst commented: "We project 4Q production of 97.9 MBoepd based on the mid-point of implied 4Q guidance, in-line with consensus, and 4Q oil volumes of 66.1 MBopd, 3% below consensus. Our 4Q CFPS, EBITDA, and capex estimates of $1.37, $310MM, and $163MM (excluding P&A) are 14%, 6%, and 8% below consensus. We are tweaking our NAV/share and target price to $20 from $21. We anticipate 4Q commentary will focus on the 2025 plan, FCF priorities, the Katmai West resource, and the company's direction under a new CEO."

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