HighPeak Energy price target raised to $14 from $12 at Truist

Truist raised the firm’s price target on HighPeak Energy (HPK) to $14 from $12 and keeps a Hold rating on the shares. The company reported a somewhat surprising lower than Street expected Q3, even though the management’s confidence of upcoming activity and CAPEX remains strong, the analyst tells investors in a research note. Truist is forecasting Q4 as likely being solid before HighPeak’s free cash flow starting to become slightly squeezed due to possible higher 2025 spend, the firm added.