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Permian Resources price target raised to $17 from $16 at Roth Capital

Roth Capital raised the firm’s price target on Permian Resources (PR) to $17 from $16 based on higher cash flows, while keeping a Buy rating on the shares following quarterly results. The company reported Q1 CFPS of $1.15, which was 1.5% above consensus of $1.13 due to higher production. The firm highlights its solid returns of capital, including dividends and buybacks, slightly higher production growth vs. peers, and discounted valuation vs. larger Permian peers.

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