The reduction in price target from $19 to $17 by Piper Sandler may have a neutral to slightly negative short-term impact on Permian Resources' stock price as it suggests a lower growth potential than previously estimated. However, maintaining an Overweight rating indicates that the analyst still sees the stock as a good investment relative to the sector. The impact is not strongly negative as the rating did not change to Neutral or Underweight, which would suggest a more bearish outlook.