Viper Energy initiated with a Buy at Truist

Truist initiated coverage of Viper Energy (VNOM) with a Buy rating and $54 price target The firm says Viper “stands out” as a large-cap mineral and royalty interest company with focus on owning and acquiring mineral and royalty interest in oil and natural gas properties in the Permian Basin. The shares trade at “considerable discount” to peers, creating a “compelling valuation,” the analyst tells investors in a research note.