XPLR Infrastructure Stock Falls Amid Multiple Price Target Cuts A Day After Strategic Pivot: Retail Sentiment Declines

Shares of XPLR Infrastructure (NEP) tumbled more than 10% in morning trade on Wednesday after multiple price target cuts from brokerages a day after the company announced a strategic pivot.

According to TheFly, analysts at Scotiabank and Wells Fargo trimmed their price targets for the XPLR Infrastructure stock due to limited visibility regarding the company's near-term growth catalysts.

While Scotiabank cut its price target for XPLR Infrastructure to $12 from $15, Wells Fargo’s Neil Kalton lowered it to $13 from $33.

Scotiabank noted that it fails to see a bull thesis for XPLR Infrastructure in the near term and said it prefers to be on the sidelines with a negative bias for the stock.

Wells Fargo’s Kalton, on the other hand, maintained an ‘Equal Weight’ rating on the stock but noted that the indefinite suspension of dividend distribution and the shift in investment strategy will take time to be accepted by the shareholder base, even as the transformation makes sense.

Retail sentiment around the XPLR Infrastructure stock declined Wednesday, dipping to ‘bullish’ (58/100) from ‘extremely bullish’ (87/100) a day ago. Message volume remained ‘extremely high’, pointing to continued interest among retail users.

NEP sentiment and message volume January 29, 2025, as of 11:30 am ET | Source: Stocktwits

One user expressed that while they’re not selling the stock, they won’t buy more until some positive catalysts become visible.

Another user expressed a similar dilemma, noting that the “immediate future doesn’t look promising.”

XPLR Infrastructure’s shares have fallen by nearly 65% over the past year, with most of this decline occurring over the past six months when the stock fell over 60%.

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