JPMorgan raised the firm’s price target on Viper Energy (VNOM) to $44 from $41 and keeps an Overweight rating on the shares. The firm says Viper should be a prime beneficiary of Endeavor consolidation. Endeavor comes with a significant minerals portfolio, which could be dropped into Viper Energy at some point during 2025, the analyst tells investors in a research note. JPMorgan believes a potential drop would give Viper even more exposure to the core of Diamondback Energy’s (FANG) Midland Basin position, which investors would view positively given a scarcity of large minerals deals remaining in the Permian.
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