Piper Sandler lowered the firm’s price target on Magnolia Oil & Gas to $29 from $30 and keeps an Overweight rating on the shares. Sentiment for E&P has cooled from the late summer/early fall following M&A frenzy and start of Mid-East war, but the firm sees the pullback offering a better entry entering 2024. With several deals already announced only several weeks into the year, M&A continues to be a key focus though the market is more discerning on value, asset quality and implications for shareholder return, Piper adds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on MGY:
- Magnolia Oil & Gas price target lowered to $21 from $23 at Wells Fargo
- Magnolia Oil & Gas price target raised to $32 from $31 at Truist
- Magnolia Oil & Gas price target lowered to $24 from $26 at Mizuho
- Magnolia Oil & Gas just downgraded at Citi, here’s why
- Citi gets more bearish on Magnolia Oil & Gas, downgrades shares