Viper Energy price target raised to $62 from $58 at Raymond James

Raymond James raised the firm’s price target on Viper Energy (VNOM) to $62 from $58 and keeps an Outperform rating on the shares following the Q3 results. Viper’s Q3 cash distribution beat the Street by 3% at 61c/unit, representing 83% of distributable cash flow, the analyst tells investors in a research note. The timing on the Endeavor minerals drop-down remains by far the most important catalyst, the firm says.