Bank of America Securities analyst Kalei Akamine has maintained their bullish stance on INR stock, giving a Buy rating today.
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Kalei Akamine has given his Buy rating due to a combination of factors that highlight Infinity Natural Resources, Inc.’s strong production growth and operational flexibility. Despite an EBITDA miss, the company demonstrated robust production results, particularly from its Marcellus natural gas development in Pennsylvania, which brought five wells online at the end of March. This production growth exceeded expectations, with total production averaging 33.1 Mboed, surpassing both consensus and Bank of America’s projections.
Moreover, Infinity Natural Resources, Inc. has maintained a flexible capital budget for the fiscal year, allowing them to adapt to changing market conditions and pursue growth opportunities. The company’s financial health, characterized by supportive net debt and liquidity, further reinforces the Buy rating. Additionally, the decision to advance a natural gas project underscores the company’s strategic focus on areas with favorable market conditions, bolstering confidence in its future performance.
In another report released today, Siebert Williams Shank & Co also reiterated a Buy rating on the stock with a $26.00 price target.