Matador Resources (MTDR) Update - Sept 21

Matador Resources (MTDR) Update - Sept 21

Postby dan_s » Wed Sep 21, 2022 12:57 pm

Note received from MKM Partners this morning

We are assuming coverage of Matador Resources (MTDR) with a Buy rating and a $68 target Price Target
$68 is based on its best-in-class production growth, limited hedges on oil offering investors upside,
growing base dividend, and reasonable valuation vs. peers.
Our $68 price target is based on 3.5x our 2023 DACF estimate (based on $90 WTI oil/$3.50 HH gas).

Leo Mariani, Managing Director MKM Partners

At the time of this post MTDR was trading at $56.07 and First Call's price target is $75.27
Dan Steffens
Energy Prospectus Group
dan_s
 
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