Vital Energy shares target cut on new strategy focus By Investing.com
On Thursday, Mizuho adjusted its outlook on Vital Energy (NYSE:VTLE), reducing the stock’s price target to $39.00 from the previous $42.00, while keeping a Neutral stance on the company. The firm cited Vital Energy’s slight cash flow and EBITDX outperformance for the third quarter of 2024, attributing it to higher oil volumes that surpassed consensus estimates. This performance was partly due to the earlier-than-anticipated completion of the Point acquisition.
The company’s recent shift in strategy was highlighted as a significant point of interest. After a period of active mergers and acquisitions throughout 2023 and 2024, Vital Energy is now refocusing its efforts towards cost reduction, balance sheet improvement, and organic…
