Raymond James analyst John Freeman lowered the firm’s price target on Vital Energy to $53 from $67 and keeps an Outperform rating on the shares. Vital’s focus on acquisitions and operational improvement has generated upside to quarterly estimates and improved guidance for the previous three quarters, the analyst tells investors in a research note. The firm estimates $110M of free cash flow in 2024 at the current strip and anticipates management will continue to look for opportunities to expand their inventory to help improve their valuation.
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