Matador price target raised to $88 from $85 at Wells Fargo

Wells Fargo raised its price target on Matador to $88 from $85 and keeps an Overweight rating on the shares as the firm publishes its pro forma model to incorporate recently announced Ameridev acquisition and to provide its expectations for the Q2 print. Updates on the Dagger Lake project and pro forma year-end 2024/2025 outlook are likely the focal points this quarter, Wells adds.