Civitas Resources price target raised to $105 from $103 at Truist

Truist analyst Neal Dingmann raised the firm’s price target on Civitas Resources to $105 from $103 and keeps a Buy rating on the shares after its Q1 earnings beat. The company has made quick work of its Permian integration that is already in the middle innings of incremental well productivity and operational efficiencies, the analyst tells investors in a research note. Civitas should be able to generate a 25% free cash flow yield next year that will allow for strong continued shareholder return, debt repayment, and further accretive deals, Truist adds.