Vista Energy resumed with a Buy at BofA

BofA resumed coverage of Vista Energy (VIST) with a Buy rating and $88 price target after the company announced the acquisition of a 25.1% non-operating working interest in the Bandurria Sur block and a 35.0% non-operating stake in the Bajo del Toro block from Equinor (EQNR) for $712M. The firm, which views the acquisition, when completed, as positive, estimates a potential IRR of 24% for the proposed acquisition under BofA’s Brent assumptions.