Raymond James analyst John Freeman lowered the firm’s price target on Infinity Natural Resources (INR) to $23 from $29 and keeps a Strong Buy rating on the shares. The firm updated its estimates for the current weaker commodity strip. Raymond James is modeling FY25 production growth of 42% and FY26 production growth of 33%, the analyst tells investors in a research note. The company’s position in the Utica provides a host of advantages, including a thick, single zone with minimal faulting, lack of formation water, and low royalty rates, Raymond James says.
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