Truist Securities Starts Infinity Natural Resources (INR) at Buy

Truist Securities analyst Bertrand Donnes initiates coverage on Infinity Natural Resources (NYSE: INR) with a Buy rating and a price target of $26.00.

The analyst commented: "Infinity Natural Resources is a small-cap E&P company with a clean balance sheet and a unique set of assets allowing for flexibility in the currently volatile commodity markets. The company has two primary upstream Oil & Gas assets, the gas-focused Pennsylvania Marcellus/Dry Utica and the liquids-focused OH Utica, with a current bias for gas. While INR's focus is on gas growth in the near-term, we expect the company to use its balance sheet and equity to drive both organic/external growth in both regions. Our $26 price target is derived from a blended 5.0x EV/EBITDAX multiple and a FCF/EV yield assumption of 11.0%."

For an analyst ratings summary and ratings history on Infinity Natural Resources click here. For more ratings news on Infinity Natural Resources click here.

Shares of Infinity Natural Resources closed at $18.14 yesterday.

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