Truist analyst Neal Dingmann raised the firm’s price target on Permian Resources (PR) to $18 from $16 and keeps a Buy rating on the shares. The company’s $4.5B acquisition of Earthstone Energy (ESTE) will ultimately be one of the most accretive transactions in several quarters based on agreed price, cost savings, and future operating efficiencies, the analyst tells investors in a research note. The combination also sets up Permian Resources as a highly attractive future target given its strong assets and operations, Truist added.
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