KeyBanc analyst Tim Rezvan downgraded Viper Energy to Sector Weight from Overweight without a price target. The units are "now a less compelling investment vehicle," given the company’s toggle between repurchases and distributions that continues to prioritize repurchases, the analyst tells investors in a research note. The firm says a 5% yield makes Viper units an "inferior yield vehicle" and it fundamentally disagrees with the company’s cash return framework.
Published first on TheFly
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