BofA analyst Noah Hungness downgraded Permian Resources (PR) to Neutral from Buy with a price target of $16, down from $17, following strong relative performance in 2025. For 2026, the firm remains cautious on the oil backdrop and continues to favor companies with resilient portfolios and low breakevens that fully cover capex and dividends in this environment, the analyst tells investors.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PR: