BUZZ-Barclays and Mizuho raise Viper Energy PT after the Sitio deal

Reuters
04 Jun
BUZZ-Barclays and Mizuho raise Viper Energy PT after the Sitio deal

** Shares of Viper Energy VNOM.O up marginally on low volumes premarket after brokerages raise PT on the Sitio Royalties STR.N deal

** Brokerage Barclays raises Viper Energy VNOM.O PT to $60 from $57, while Mizuho raises PT to $55 from $54

** As of last close, Barclays PT is about 44.8% upside, whereas Mizuho's PT is around 32.7% upside

** "The STR acquisition cements VNOM as the premier unconventional royalty company and the go-to upstream yield vehicle" - Barclays

** Mizuho says this deal further positions VNOM as a highly differentiated Energy name that should continue to attract investor interest

** All 15 brokerages covering stock rate it "buy" or higher; their median PT is $53 - data compiled by LSEG

** VNOM shares down 15.6% YTD, as of last close

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))

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