Matador price target lowered to $87 from $90 at Wells Fargo

Wells Fargo analyst Hanwen Chang lowered the firm’s price target on Matador (MTDR) to $87 from $90 and keeps an Overweight rating on the shares. While near-term execution concerns weigh on sentiment, the firm continues to view Matador as a high-quality Permian Basin pure play with a differentiated growth profile and reasonable valuation.