Viper Energy price target raised to $64 from $57 at Truist

Truist raised the firm’s price target on Viper Energy (VNOM) to $64 from $57 and keeps a Buy rating on the shares after its Q3 earnings beat. The company continues to “proficiently perform”, growing production when most E&Ps are relatively stable and generating notable DCF in a challenging commodity price environment, the analyst tells investors in a research note. Viper also continues to have the major benefit of its high exposure to its parent Diamondback Energy (FANG) that not only ensures continued active drilling but also completions with a higher average net revenue interest, the firm added.