Wolfe Research upgraded Matador (MTDR) to Outperform from Peer Perform with a $72 price target After lagging the Russell 3000 Energy Index by about 5% over the past year, Matador should be able to outperform “pure play” peers, and this starts with management consideration of strategic alternatives for its 51% ownership in its San Mateo JV, where it recently contributed its Pronto assets, the analyst tells investors in a research note. Among the possible avenues, Matador may pursue an IPO as this would provide a valuation marker while maintaining control of a strategic asset, the firm added.
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Read More on MTDR:
- Matador upgraded to Outperform from Peer Perform at Wolfe Research
- Matador price target raised to $75 from $74 at TD Cowen
- Matador price target lowered to $73 from $74 at Mizuho
- Matador price target raised to $80 from $78 at Stephens
- Matador announces contribution of Pronto Midstream to San Mateo JV