Wolfe upgrades Vital Energy to Peer Perform, sees improved outlook

Wolfe Research analyst John Abbott upgraded Vital Energy (VTLE) to Peer Perform from Underperform. While still highly volatile, improving costs, lower debt, and less M&A improves Vital’s outlook while acknowledging M&A as a potential upside risk, the analyst tells investors in a research note. The firm added that a challenge for investors is Vital’s high beta to an oil price that has stabilized.