Stifel raised the firm’s price target on Permian Resources (PR) to $18 from $15 and keeps a Buy rating on the shares for the company’s acquisition of Earthstone Energy (ESTE). In the firm’s view, the company provides scale and balance sheet strength, the analyst tells investors. Further, Stifel estimates the company can return 100% of its enterprise value by 2031 and believes the company can offer investors an advantaged return of capital program among its mid-cap peers.
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