XPLR Infrastructure price target lowered to $13 from $33 at Wells Fargo

Wells Fargo analyst Neil Kalton lowered the firm’s price target on XPLR Infrastructure (NEP) to $13 from $33 and keeps an Equal Weight rating on the shares. The firm notes the company suspended the dividend and formalized the shift to a traditional IPP structure. Wells thinks the transformation makes sense, but it may take a while for the SH base to turnover.