Matador price target lowered to $60 from $62 at RBC Capital

RBC Capital analyst Scott Hanold lowered the firm’s price target on Matador (MTDR) to $60 from $62 and keeps an Outperform rating on the shares. The company remains committed to the announced activity reductions, and there is flexibility for changes if needed, the analyst tells investors in a research note. Matador management continues to proactively assess the volatile macro environment and has ample flexibility to move activity in either direction, RBC added.