Infinity Natural Resources initiated with a Buy at BofA

BofA analyst Kalei Akamine initiated coverage of Infinity Natural Resources (INR) with a Buy rating and $30 price target Infinity is “distinctive” by multiple measures, including output and market cap, but “what it lacks in size it makes up for in agility,” the analyst tells investors. For the remainder of this decade, the firm estimates Infinity will have “peer-leading” top-line production growth averaging a 17% compound annual growth rate and believes it could see production double in two years enabled by new prospective plays in the Utica, the analyst tells investors.