Goldman Sachs initiated coverage of Viper Energy (VNOM) with a Buy rating and $70 price target implying 29% upside from current levels. Viper’s no capex business model allows investors to gain exposure to oil and natural gas properties while generating a dividend at a better conversion ratio than the traditional exploration and production business model, the analyst tells investors in a research note. The firm recommends the shares given the company’s “unique business model and the potential for organic and inorganic growth driven by a best-in-class parent company.”
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Read More on VNOM:
- Viper Energy initiated with a Buy at BofA
- Viper Energy price target raised to $62 from $58 at Raymond James
- Viper Energy price target raised to $64 from $61 at Piper Sandler
- Viper Energy price target raised to $64 from $57 at Truist
- Viper Energy Reports Strong Q3 2024 Performance
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
