HighPeak Energy reinstated with a Buy at Roth Capital

Roth Capital analyst Nick Pope reinstated coverage of HighPeak Energy (HPK) with a Buy rating and $12 price target Investor concerns around an over-levered balance sheet, lower quality drilling inventory and management changes have led to the shares being undervalued, the analyst tells investors in a research note. The firm believes HighPeak’s multiple can expand as it focuses on Permian execution and pays down debt.