Seeking Alpha

Matador Resources +4% as Wunderlich lifts price target

  • Matador Resources' (MTDR +4%) price target is raised to $34 at Wunderlich, which notes that while the Midland Basin has been hot in the last 18 months, it expects more drilling catalysts coming from the Delaware Basin this quarter.
  • MTDR is leveraged to the Delaware Basin, and down-spacing test results, which may be available soon, could be a positive catalyst for the company and other producers in the region, according to Wunderlich.
  • The firm says MTDR's valuation is still very attractive, trading below the peer average at 5.2x 2015 cash flow and 5.5x 2015 EV/EBITDA.
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