Stifel analyst Derrick Whitfield raised the firm’s price target on Vital Energy to $119 from $112 and keeps a Buy rating on the shares. Ahead of Q2 earnings, Stifel is updating its commodity estimates to reflect strip prices through 2025, maintaining its long-term WTI and HH prices, and revising its forecasts, the analyst tells investors. Further, the firm expects weaker earnings from upstream stocks, improving outlooks for the upstream and biofuels sectors, and broader macro conditions to support the energy sector’s outperformance after Q2.
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Read More on VTLE:
- Vital Energy price target raised to $54 from $49 at Mizuho
- Vital Energy raises FY23 total production view to 82-86 MBOE/d from 76-80 MBOE/d
- Vital Energy Provides Select Preliminary Second-Quarter 2023 Results and Increases Full-Year 2023 Production Outlook
- Vital Energy says Q2 production averaged 89.5 MBOE/d
- Vital Energy price target lowered to $45 from $50 at Piper Sandler
