Viper Energy price target raised to $48 from $46 at TD Securities

TD Securities raised the firm’s price target on Viper Energy to $48 from $46 and keeps a Buy rating on the shares after the company entered into agreements to acquire current royalty production of 4,000 BOE/d and 3,727 net royalty acres of land primarily concentrated in the Midland Basin. While the transactions are modestly positive to near-term cash flow per share metrics, they also come with significant long-term upside and continued visibility to Diamondback growth, the analyst tells investors in a research note.