Infinity Natural Resources price target lowered to $23 from $27 at Citi

Citi lowered the firm’s price target on Infinity Natural Resources (INR) to $23 from $27 and keeps a Buy rating on the shares following the Q4 report. Both the company’s production and capital spending were below expectations due largely to operational timing, while operating expenses were above estimates, the analyst tells investors in a research note. The firm expects few surprises into the Q1 report given the “quick turn.” Citi cites increasing macroeconomic uncertainty and the potential impact on energy demand balanced against a novel and stable organic story with low debt levels for its Buy rating.