In a report released yesterday, Robert Kad from Morgan Stanley maintained a Sell rating on XPLR Infrastructure, with a price target of $11.00.
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Robert Kad’s rating is based on a combination of factors that suggest caution for investors considering XPLR Infrastructure’s stock. Despite reporting better-than-expected second-quarter 2025 EBITDA and free cash flow before growth, the company faces challenges such as lower year-over-year wind resources and the absence of interest income from previous asset sales. These factors partially offset the positive impact of reduced operating expenses and improved pricing.
Additionally, while XPLR Infrastructure has entered into an agreement to sell its interest in the Meade Pipeline, the transaction’s proceeds are primarily allocated to debt repayment and other obligations, leaving limited excess for growth initiatives. The company’s ongoing wind repowering projects are progressing, but the completion timeline extends into 2026, which may delay potential benefits. These elements contribute to a cautious outlook, leading Robert Kad to assign a Sell rating to the stock.
In another report released yesterday, Barclays also maintained a Sell rating on the stock with a $11.00 price target.