XPLR Infrastructure price target lowered to $7 from $17 at Barclays

Barclays lowered the firm’s price target on XPLR Infrastructure (NEP) to $7 from $17 and keeps an Underweight rating on the shares. The firm says that while XPLR’s restructuring appears to have been a clearing event for the stock, the shares are still not “cheap.” XPLR’s new strategy, where it will fund capital expenditures and convertible equity portfolio financing payments with its balance sheet and cash from operations with no external equity, do not provide a line of sight into growth beyond 2026, the analyst tells investors in a research note.