PHX Minerals price target lowered to $4.50 from $5.50 at Alliance Global Partners

Alliance Global Partners analyst Jeff Grampp lowered the firm’s price target on PHX Minerals to $4.50 from $5.50 and keeps a Buy rating on the shares as the firm is updating estimates ahead of Q4 earnings, including introducing estimates for 2025. While its pipeline of wells had been at record levels, the timing of these wells coming online seems more uncertain given the macro natural gas backdrop, says the analyst, who is accordingly lowering the firm’s production forecast.