Infinity Natural Resources initiated with an Overweight at Stephens

Stephens initiated coverage of Infinity Natural Resources (INR) with an Overweight rating and $30 price target The “Appalachian Basin pure play” offers investors differentiated organic growth, best-in-class margins, an under-levered balance sheet and a management team with “deep Appalachian roots,” the analyst tells investors. Infinity also has meaningful exposure to the emerging deep Utica play, where the convergence of declining costs and improving natural gas prices have lifted recent well economics to “a level that ranks among the best in the industry,” the analyst added.