Tamboran Resources initiated with a Sector Perform at RBC Capital

RBC Capital initiated coverage of Tamboran Resources with a Sector Perform rating and $31 price target. The company has “significant upside” from a large contiguous frontier acreage footprint in the undeveloped Australian onshore Beetaloo Basin, which has a local gas market supply opportunity, the analyst tells investors in a research note. The firm says the company needs more funding but has several options.