UBS analyst Peyton Dorne initiated coverage of Magnolia Oil & Gas with a Buy rating and $26 price target The company’s “strong” capital returns, capital efficiency, and high production per share growth drive a favorable outlook, the analyst tells investors in a research note. The firm says a premium multiple is warranted given Magnolia’s “top-tier” balance sheet that supports capital returns amid lower oil prices. It sees a favorable entry point at current share levels.
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