Goldman Sachs downgraded Magnolia Oil & Gas to Neutral from Buy with a price target of $26, down from $27. The firm views the catalyst pathway for Magnolia as largely played out. It estimates the company will maintain relatively flat production costs over the next two years as most of the larger, operational cost savings were captured with its cost savings initiative in early 2024. Without incremental catalysts for further efficiencies, share price outperformance is likely to remain more moderated relative to 2024, the analyst tells investors in a research note.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MGY:
- Magnolia Oil & Gas price target raised to $26 from $24 at Piper Sandler
- Magnolia Oil & Gas price target raised to $34 from $33 at Truist
- Magnolia Oil & Gas downgraded to Neutral from Buy at BofA
- Magnolia Oil & Gas exec Millican sells 195,293 common shares
- Roth expects ‘slight’ negative reaction to Magnolia Oil & Gas after insider sale