Viper Energy upgraded to Buy from Hold at Jefferies

Jefferies upgraded Viper Energy (VNOM) to Buy from Hold with a price target of $55, up from $43. The firm says the company is well positioned to take advantage of higher oil prices. With the higher price environment “here to stay,” Viper will post its largest annual buyback in 2026, the analyst tells investors in a research note. Jefferies’ 2026 EBITDA estimate is 45% above the Street with production toward the upper end of the company’s guidance. It views the shares as “cheap” following the recent multiple compression. Jefferies cites its higher long-tern oil price outlook and an environment “looking increasingly inflationary” for the upgrade.