Prairie Operating price target lowered to $7.50 from $9 at Clear Street

Clear Street lowered the firm’s price target on Prairie Operating (PROP) to $7.50 from $9 and keeps a Buy rating on the shares. While Prairie Operating’s quarterly results demonstrated sequential improvement on production and adjusted EBITDA, the figures were light versus the firm’s forecasts, the analyst tells investors in a research note. The firm’s downside scenario implies the stock is worth only $3.50 if Prairie does not implement alternatives to offset the very high potential dilution from the Series F Preferred and related warrants.