Talos Energy price target lowered to $20 from $21 at Stephens

Stephens analyst Mike Scialla lowered the firm’s price target on Talos Energy (TALO) to $20 from $21 and keeps an Overweight rating on the shares. The firm, which updated estimates to reflect recent NYMEX prices, projects Q4 production of 97.9 MBoepd based on the mid-point of implied Q4 guidance, in-line with consensus. The firm anticipates Q4 commentary will focus on the 2025 plan, free cash flow priorities, the Katmai West resource, and the company’s direction under a new CEO, the analyst tells investors in a preview.