Roth/MKM initiated coverage on Tamboran Resources Corporation (NYSE:TBN) with a Buy rating and a price target of $47.00. The stock currently trades at $35.94, up 82% over the past year, with analyst targets ranging from $55 to $66.
The firm cited high production growth, strong financial position, and large natural gas resource potential. Bond.az notes the company holds more cash than debt, with a current ratio of 2.0.
Tamboran is a natural gas company with 2.8 million net acres in the Beetaloo Basin, Australia. It went public in the U.S. in June 2024 and expects first gas sales in Q3 2026.
The Beetaloo Basin holds over 500 trillion cubic feet of recoverable gas. Tamboran is the largest acreage holder with up to 40,000 drilling locations.
The company plans to grow production to 40 million cubic feet per day in H2 2026 and to 100 million cubic feet per day within a few years.
