Mizuho analyst Nitin Kumar raised the firm’s price target on Vital Energy to $53 from $49 and keeps an Underperform rating on the shares ahead of the Q1 results. The company announced Q1 production that was 7% ahead of the midpoint of prior guidance, the analyst tells investors in a research note. However, there is "no way to dodge weaker commodity prices," says the firm.
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Published first on TheFly
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Read More on VTLE:
- Vital Energy raises 2023 production 76-80 MBOE/d from 72-76 MBOE/d
- Vital Energy reports Q1 production averaging 80.2K MBOE/d
- Vital Energy Provides Select Preliminary First-Quarter 2023 Results and Increases Expectations for Full-Year 2023 Production
- Vital Energy price target lowered to $61 from $68 at Raymond James
- Vital Energy price target lowered to $49 from $59 at Mizuho