Pedevco price target raised to $18 from $16 at Roth Capital

Roth Capital raised the firm’s price target on Pedevco (PED) to $18 from $16 and keeps a Buy rating on the shares. The company reported a solid Q4, with the first quarter reflecting combined Juniper Companies, while the management also provided a measured 2026 plan that will generate a significant amount of free cash flow, the analyst tells investors in a research note. The Juniper merger provided a significant increase in assets, and debt for the company which could be paid down quickly with the expected free cash flow, Roth added.