Black Stone Minerals price target lowered to $16 from $17 at Piper Sandler

Piper Sandler analyst Mark Lear lowered the firm’s price target on Black Stone Minerals to $16 from $17 and keeps a Neutral rating on the shares. The analyst previews the Q1 results for the exploration and production space, saying recent acquisitions in the sector highlight the scarcity of core undeveloped inventory. Natural gas remains a key debate with the equities holding in significantly better than the front end of the curve, the analyst tells investors in a research note. It thinks messaging around opportunistic buybacks should prove differentiating in the quarterly results.