Truist analyst Neal Dingmann raised the firm’s price target on Magnolia Oil & Gas to $29 from $27 and keeps a Buy rating on the shares. The analyst is adjusting the firm’s model after the company announced the acquisition of 48K net acres in Giddings for about $260M. The deal likely came with a significant amount of locations, increasing the company’s already “robust runway”, the firm tells investors in a research note.
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