Vital Energy price target lowered to $24 from $36 at Wells Fargo

Wells Fargo lowered the firm’s price target on Vital Energy (VTLE) to $24 from $36 and keeps an Equal Weight rating on the shares. While Vital Energy is making progress in extending its inventory runway, ongoing operational challenges, underperformance of delineation wells, and modest deleveraging progress are likely to continue weighing on the stock, the firm says.