HighPeak Energy Could Become An Acquisition Target - Analyst Determines The Premium
Portfolio Pulse from Nabaparna Bhattacharya
Truist Securities analyst Neal Dingmann upgraded HighPeak Energy, Inc (NASDAQ:HPK) to Hold from Sell, raising the price target to $13 from $10. The company has improved operations, resulting in lower spending and costs. HighPeak could become an acquisition target with a potential price per share around $13. The company will likely need to take a moderate shareholder return approach after a 60% distribution increase and share repurchase announced last quarter. HPK shares are trading higher by 0.44% to $14.85.
May 23, 2024 | 7:05 pm
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Truist Securities upgraded HighPeak Energy to Hold from Sell, raising the price target to $13. Improved operations and potential acquisition target. HPK shares are trading higher by 0.44% to $14.85.
The upgrade from Sell to Hold and the raised price target indicate improved investor sentiment. The potential for HighPeak to become an acquisition target further boosts its attractiveness. The stock's current trading price above the new target suggests positive market reaction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100