Matador price target lowered to $76 from $77 at Wells Fargo

Wells Fargo lowered the firm’s price target on Matador (MTDR) to $76 from $77 and keeps an Overweight rating on the shares. The firm anticipates a solid operational Q3 print and a 5% free cash flow beat. Key focus areas include production trajectory and exit rates, well cost trends, preliminary 2026 outlook, midstream strategic options, M&A outlook and buyback execution.