Citi initiated coverage of Prairie Operating (PROP) with a Buy rating and $8 price target The firm likes the company’s “unique position” as the only pure-play single-basin public operator pursuing a roll-up strategy in the Denver-Julesburg Basin Basin. Prairie’s recent acquisition of Bayswater, with integration currently ongoing, demonstrates its capacity for consolidation, the analyst tells investors in a research note. Citi says the company’s growth strategy underpins its positive outlook.
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