Matador initiated with an Equal Weight at Morgan Stanley

Morgan Stanley initiated coverage of Matador (MTDR) with an Equal Weight rating and $78 price target amid a broader research note on the North American E&Ps. Matador’s growing scale in the Delaware and focus on improving capital and operational efficiencies supports more resilient free cash flow generation and a competitive breakeven, the analyst says. The firm estimates Matador to trade in-line with peers on 2025 free cash flow yield.