Vitesse Energy initiated with a Buy at Roth MKM

Roth MKM initiated coverage of Vitesse Energy with a Buy rating and $30.50 price target. The company “presents a compelling investment opportunity for several reasons,” including an established record of production growth, a large inventory of undrilled locations, a “strong and well-covered dividend, and potential upside to 2024 estimates, the analyst tells investors in a research note. The market generally affords higher multiples to exploration and production companies with lower leverage, like Vitesse, says the firm.