Truist Securities Starts Matador (MTDR) at Hold
Truist Securities analyst Gabe Daoud initiates coverage on Matador (NYSE: MTDR) with a Hold rating and a price target of $60.00.
The analyst comments "We initiate coverage on Matador Resources with a Hold rating and $60 PT which represents 1x our 2P NAV. MTDR stands out as just one of two Delaware Basin pure-play E&Ps and retains adequate and perhaps underappreciated inventory depth, a strong management team that's built the Delaware position "brick by brick" and an attractive midstream business. We've long been fans of the story but at present we find shares fairly valued on P/NAV and on a relative basis."
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Shares of Matador closed at $58.50 yesterday.