Prairie Operating Co. initiated with a Buy at Clear Street

Clear Street initiated coverage of Prairie Operating Co. (PROP) with a Buy rating and $16 price target Prairie is an independent energy exploration, development and production player in the Denver-Julesburg Basin of Colorado, the analyst tells investors in a research note. Following the recent acquisition of the Bayswater assets in the Wattenberg DJ Basin, the firm forecasts Prairie has 9-10 years of drilling inventory, which should drive double-digit annual production growth through 2033 and “significantly outpace the peer group production growth.”