Raymond James has revised its price target for Infinity Natural Resources (INR, Financial), lowering it from $29 to $26 while maintaining a Strong Buy rating. This adjustment reflects significant changes in the energy sector landscape since the previous quarter.
Analyst John Freeman notes that current oil prices have fallen by approximately $10 per barrel compared to late February when Exploration & Production companies reported their Q4 results. This decrease is attributed to recent developments such as the tariff war and decisions by OPEC+, which have reshaped the oil market environment.
Despite these challenges, the firm anticipates that its coverage in the Exploration & Production sector will deliver performances that are largely in line with expectations for the first quarter. While many management teams are adopting a cautious stance in response to these market shifts, the outlook for INR remains optimistic with the Strong Buy recommendation intact.
