Piper Sandler Lifts PT on Permian Resources Corporation (PR) to $27 From $24 – Here’s Why

<p>Permian Resources Corporation (NYSE:<a href="https://finance.yahoo.com/quote/PR">PR</a>) is one of <a href="https://www.insidermonkey.com/blog/10-best-oil-stocks-to-buy-right-now-2-1716274/">the best oil stocks to buy right now</a>. Permian Resources Corporation (NYSE:PR) received a rating update from Piper Sander on March 12, with the firm raising the price target on the stock to $27 from $24 while maintaining an Overweight rating on the shares. The firm told investors in a research note that it raised its mid-cycle crude price forecast to $75 per barrel from $70 amid the Iran war, and cited its increased price deck for the bump in the price targets for the stocks in the sector. Piper anticipates lasting supply impacts and stated that higher prices are required to incentivize investment in production.</p>
<p>Previously, Piper Sandler adjusted the price target on Permian Resources Corporation (NYSE:PR) to $24 from $20 on March 5 and maintained an Overweight rating on the shares. It told investors that the rotation trade got a shot in the arm that week, with the Iran war putting 20% of global oil, product, and gas supply at risk. It added that although the fiscal Q4 results and FY26 outlooks have been overshadowed by the war, the firm expects little change from U.S. operators in the wake of the conflict.</p>
<p>Permian Resources (NYSE:PR) is an independent natural gas and oil company specializing in acquiring, optimizing, and developing oil and natural gas properties. A significant majority of the company’s assets are concentrated within the Delaware Basin in Eddy and Lea Counties, New Mexico, and Reeves and Ward Counties, Texas.</p>
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