Prairie Operating Co. initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of Prairie Operating Co. (PROP) with an Overweight rating and $11 price target The company has been “aggressively consolidating” in the oil-window of the northern Denver-Julesburg basin having completed $800M of deals over the past two years, the analyst tells investors in a research note. The firm views Prairie as a growing DJ basin consolidator.