Evercore downgrades XPLR Infrastructure with turnaround ‘luster’ seemingly lost

Evercore ISI downgraded XPLR Infrastructure (XIFR) to In Line from Outperform with a price target of $10.80, down from $15. While the firm acknowledges the company’s ability to continue to deliver on its simplified structure, it also acknowledges “these types of simplification endeavors take time” and while the market “typically embraces a turnaround story, the luster of a turnaround story has seemingly been lost,” the analyst tells investors.