Matador Resources cut to Hold from Buy at Canaccord

Matador Resources (MTDR -6.1%) is downgraded to Hold from Buy with a $21 price target at Canaccord, which awaits meaningful updates in December at its analyst day.

MTDR continues to impress operationally in the Eagle Ford as it lowers well costs through pad drilling, reduced fracking costs and improvement in well design, but the firm believes these have been noticed by the Street.

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