Stifel Downgrades Texas Pacific Land Trust (TPL) to Hold

Stifel analyst Derrick Whitfield downgraded Texas Pacific Land Trust (NYSE: TPL) from Buy to Hold with a price target of $1,359.00 (from $981.00).

The analyst comments "We are lowering our rating from Buy to Hold following a +250% increase (+22% S&P 500) in the share price since October 28, 2020. Of importance, we encourage investors to note that the recent outperformance (+70% versus its closest peer since February 1, 2021) was driven by technical factors (index buying), which could result in a better entry point for fundamental investors."

For an analyst ratings summary and ratings history on Texas Pacific Land Trust click here. For more ratings news on Texas Pacific Land Trust click here.

Shares of Texas Pacific Land Trust closed at $1589.43 yesterday.

You May Also Be Interested In

• Stifel Upgrades Barry Callebaut AG (BARN:SW) (BYCBF) to Buy
• Darling Ingredients (DAR) PT Lowered to $62 at JPMorgan
• Morgan Stanley (MS) PT Raised to $108 at CFRA