Johnson Rice Begins Coverage on Tamboran Resources (NYSE:TBN)

Investment analysts at Johnson Rice initiated coverage on shares of Tamboran Resources (NYSE:TBN) in a research note issued on Tuesday, Briefing.com reports. The brokerage set a “buy” rating and a $47.00 price target on the stock. Johnson Rice’s price objective indicates a potential upside of 95.34% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Royal Bank of Canada initiated coverage on Tamboran Resources in a report on Monday. They set a “sector perform” rating and a $31.00 target price for the company. Citigroup initiated coverage on Tamboran Resources in a report on Monday. They set a “buy” rating and a $32.00 target price for the company. Finally, Piper Sandler initiated coverage on Tamboran Resources in a report on Monday. They set an “overweight” rating and a $41.00 target price for the company.

Tamboran Resources Stock Performance

Shares of TBN traded down $0.44 during trading hours on Tuesday, reaching $24.06. The stock had a trading volume of 114,233 shares, compared to its average volume of 78,831. Tamboran Resources has a 52 week low of $21.74 and a 52 week high of $25.99.

Tamboran Resources Company Profile

We are an early stage, growth-driven independent natural gas exploration and production company focused on an integrated approach to the commercial development of the natural gas resources in the Beetaloo located within the Northern Territory of Australia. We and our working interest partners have exploration permits (“EPs”) to approximately 4.7 million contiguous gross acres (approximately 1.9 million net acres to Tamboran) and are currently the largest acreage holder in the Beetaloo.