Wells Fargo analyst Hanwen Chang raised the firm’s price target on Vital Energy (VTLE) to $35 from $29 and keeps an Equal Weight rating on the shares. The firm says the company demonstrated strong cost-reduction execution during Q3, and moving forward will focus on operational excellence and deleveraging while pivoting away from M&A. In Wells’ view, sustained execution will be essential to rebuilding investor confidence.
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Read More on VTLE:
- Vital Energy price target lowered to $35 from $37 at Piper Sandler
- Vital Energy Reports Strong Q3 2024 Results
- Vital Energy Reports Strong Q3 Results and Growth
- Vital Energy reports Q3 diluted EPS $5.73, may not compare to consensus $1.45
- Vital Energy sees FY24 capital investments guidance of $845M-$870M