Riley Exploration price target raised to $53 from $50 at Truist

Truist raised the firm’s price target on Riley Exploration to $53 from $50 and keeps a Buy rating on the shares. The firm believes that the company will continue running a stable operational program focused largely in the same areas as recent quarters, and as a result of the operational and capital efficiencies with this year’s program, it sees a material ramp in free cash flow which will be used for continued shareholder return and debt repayment, the analyst tells investors in a research note.