Permian Resources Corp (PR) PT Raised to $18 at Mizuho

Mizuho analyst Nitin Kumar raised the price target on Permian Resources Corp (NASDAQ: PR) to $18.00 (from $16.00) while maintaining a Buy rating.

The analyst comments "We are updating our financial forecasts and NAV for PR to reflect YE23 reserves, updated type curves and 2024 guidance updates. Since closing the ESTE acquisition in November, PR has shown initial execution on capital efficiencies (2024 outlook modestly better than expected) and toward delivering on merger synergies (on pace to hit $175mm/annum run-rate savings ahead of schedule). We maintain our Buy rating and raise our PT to $18/share, up from $16/share."

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