Matador price target raised to $76 from $74 at Stephens

Stephens raised the firm’s price target on Matador to $76 from $74 and keeps an Overweight rating on the shares. Following a private offering of $750M of 6.25% senior unsecured notes due 2033, last week’s closing of the Ameredev acquisition, and the recent sale of Pinon Midstream to Enterprise, the firm’s net asset value estimates have been increased “slightly,” leading to its price target hike.