Vital Energy (VTLE) PT Raised to $63 at KeyBanc

KeyBanc analyst Tim Rezvan raised the price target on Vital Energy (NYSE: VTLE) to $63.00 (from $55.00) while maintaining a Overweight rating.

The analyst commented, "How much of an earnings beat is needed to meet buy-side expectations? That is the debate we see playing out into earnings. Management has provided bullish commentary on progress of the 20-well Glasscock County pad that was turned to sales this quarter, and we believe the bigger question is on the extent of the 1Q24 earnings beat to guidance that will satiate the marketplace. Our production modeling is slightly above the midpoint of guidance for 1Q24 and 2024."

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