Matador price target lowered to $80 from $86 at Wells Fargo

Wells Fargo analyst Hanwen Chang lowered the firm’s price target on Matador (MTDR) to $80 from $86 and keeps an Overweight rating on the shares. The firm believes Matador’s shift from a high-growth strategy to a more measured approach is a prudent response to market uncertainties. The new buyback program reflects a positive step toward enhancing shareholder returns, Wells adds.