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Vitesse initiated with an Outperform at Northland
The Fly

Vitesse initiated with an Outperform at Northland

Northland analyst Donovan Schafer initiated coverage of Vitesse Energy (VTS) with an Outperform rating and $23 price target. Vitesse is "undervalued" when compared to its intrinsic value post-spin from Jefferies (JEF), said the firm, which believes the low price is due to selling from Jefferies investors that had no interest in owning a non-operator oil and gas company after receiving the shares as a dividend. The firm expects Vitesse to "reach $20 and more once the initial churn subsides," Northland tells investors.

Published first on TheFly

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