Vitesse Energy price target lowered to $27 from $31 at Northland

Northland analyst Bobby Brooks lowered the firm’s price target on Vitesse Energy (VTS) to $27 from $31 and keeps an Outperform rating on the shares. After completing its first major acquisition of Lucero earlier this month, management’s tone and discussion on the conference call “clearly indicated an appetite and ability for more,” according to the analyst, who thinks a next move could expand its presence outside the Bakken and into new basins. The firm’s lower price target for shares is due to a higher share count, the analyst noted.