Wall Street Analysts See Upside Potential for 10 Stocks with Rising Price Targets

02. Matador Resources Company (NYSE:MTDR)

Upside Potential: 60%

As of June 13, Truist Securities has raised its price target for Matador Resources Company (NYSE:MTDR) by $4 to $91 per share, indicating a significant potential upside of 60%. This upward revision is rooted in Truist Securities’ optimistic view of the oil and gas industry, driven by favorable conditions including a positive commodity landscape projected for 2024, potentially reduced pricing for oilfield equipment and services, and robust operational performance observed across the sector. Analyst Neal Dingmann of Truist Securities maintains a “Strong Buy” rating for Matador Resources Company (NYSE:MTDR), underscoring his confidence in the company’s ongoing operational strength and future prospects within the energy sector.

Dingmann’s bullish stance emphasizes Matador Resources Company (NYSE:MTDR) resilience and capacity to navigate industry challenges while leveraging opportunities for sustained profitability and strategic growth initiatives.

Here is what ClearBridge Investments Small Cap Strategy has to say about Matador Resources Company (NYSE:MTDR) in its Q3 2022 investor letter:

“We added Matador Resources (NYSE:MTDR), an oil and natural gas exploration and production company. The company has carefully acquired high-quality acreage across the Permian basin of West Texas and New Mexico that we believe could provide up to 20 years of consistent drilling activity. Additionally, the company is the majority owner of its infrastructure and midstream provider, which provides the company with a valuable asset and right of first call on transport capacity, which we believe is a hidden asset not reflected in the company’s share price.”