Wells Fargo raised the firm’s price target on Permian Resources (PR) to $27 from $21 and keeps an Overweight rating on the shares. The firm notes Permian enters Q1 2026 with continued strong execution and cost discipline. While activity remains unchanged, management is pulling forward volumes to capture higher prices. Key focus areas include realization volatility, marginal volume acceleration, and the M&A backdrop, Wells adds.
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