Permian Resources price target raised to $18 from $17 at RBC Capital

RBC Capital raised the firm’s price target on Permian Resources (PR) to $18 from $17 and keeps an Outperform rating on the shares. The company’s Q3 operational and financial results should be solid, consistent with past quarters and current consensus expectations, the analyst tells investors in a research note. The management should continue the current activity pace that delivers low-single digit organic oil growth with improving capital efficiencies, the firm added.