KeyBanc bullish on Vital Enrgy, sees ‘firmer financial footing’

KeyBanc analyst Tim Rezvan last night initiated coverage of Vital Energy with an Overweight rating and $58 price target. The company’s new management team is in the process of steering Vital to “firmer financial footing” through a series of bolt-on acquisitions providing scale, stronger inventory depth, and a clear pathway to continued free cash flow generation and organic deleveraging, the analyst tells investors in a research note. The firm says Vital is “boot-strapping its way back to relevance with investors, and now has deeper and higher-quality inventory.”