BofA analyst Noah Hungness moved to No Rating from Underperform on Vital Energy (VTLE) after Crescent Energy (CRGY) agreed to acquire all outstanding shares of Vital in an all-stock transaction. After the deal announcement, the firm believes that the stock is no longer trading on fundamentals, the analyst tells investors.
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Read More on VTLE:
- Vital Energy Announces Merger with Crescent Energy
- Crescent Energy to acquire Vital Energy in $3.1B all-stock transaction
- Crescent Energy in advanced talks to acquire Vital Energy, Reuters says
- Vital Energy price target lowered to $16 from $17 at Piper Sandler
- Vital Energy’s Earnings Call: Strong Performance Amid Challenges