Truist Securities Starts Vital Energy (VTLE) at Buy, 'New Look New Upside'

Truist Securities analyst Neal Dingmann initiates coverage on Vital Energy (NYSE: VTLE) with a Buy rating and a price target of $70.00.

The analyst comments "We initiate coverage with a Buy rating and $70 price target. Vital Energy Inc. (VTLE) is a pure Permian E&P with ~70% of operations in the Midland Basin with the remainder in the Delaware Basin. The company has gone through a complete transformation in the past several quarters with five acquisitions this year alone. As a result, the company now has ~250k acres and in our view will likely end the year with oil production of <54 mbopd (<108 mboepd) versus 4Q22 production of ~36 mbopd (~78 mboepd)."

For an analyst ratings summary and ratings history on Vital Energy click here. For more ratings news on Vital Energy click here.

Shares of Vital Energy closed at $45.84 yesterday.

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