Vitesse Energy price target raised to $22.50 from $20 at Northland

Northland analyst Jeff Grampp raised the firm’s price target on Vitesse Energy (VTS) to $22.50 from $20 and keeps a Market Perform rating on the shares. A “meaningful beat” on Q2 adjusted EBITDA was largely driven by a previously announced legal settlement, though production performance was “strong too,” the analyst tells investors. M&A opportunities “remain robust,” but Vitesse has “a high bar to meet return goals and dividend accretion,” the analyst added in a post-earnings note.