Viper Energy price target lowered to $68 from $78 at Truist

Truist lowered the firm’s price target on Viper Energy (VNOM) to $68 from $78 and keeps a Buy rating on the shares. The company’s $4.2B dropdown of certain Diamondback Energy (FANG) mineral and royalty interests was largely as had previously been suggested and the deals are positive given the appropriate value for significant core assets, but the firm’s price target declines due to more equity and slightly lower production than estimated, the analyst tells investors in a research note.