Citi analyst Paul Diamond initiated coverage of Talos Energy with a Buy rating and $16.50 price target. The analyst favors the company’s “prudent strategy” composed of a balanced combination of acquisitional and organic growth with moderate operational upside. Citi views the continuation of this trend as necessary to balance the concern surrounding Talos Energy’s relatively small scale and comparably low reserve life. It sees the recent weakness in shares as overdone expects the company’s “more stable narrative focused on growth and operational execution will come to be appreciated by the markets in coming quarters.”
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