Piper Sandler analyst Mark Lear lowered the firm’s price target on Prairie Operating (PROP) to $10 from $11 and keeps an Overweight rating on the shares. Coming out of Q1 2025 earnings, the firm is adjusting its near-term commodity price forecast, maintaining its long-term mid-cycle oil and raising mid-cycle gas to $3.50 from $3.25. In E&P, Piper continues to look for a balance of operational flexibility, deep high-return inventory runways and low reinvestment rates through FY26.
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