Piper Sandler analyst Mark Lear raised the firm's price target on Tamboran Resources to $74 from $41 and keeps an Overweight rating on the shares following two recent transactions in the Beetaloo Basin that values the basin at $2.9-5.5k/acre including the farm-out transaction of 10k net acres to Daly Waters. The deal follows the announcement last week that INPEX is farming into DWE's position in the Beetaloo, with an option to further expand its position. Tamboran is expected to close the acquisition of Falcon in the next couple of weeks and anticipates having a farm out agreement of its own by mid-FY26, in an environment where the Iran War is expected to place a premium on long-term gas resource outside the Middle East, adds Piper.
