CIVI - Civitas Has 'Meaningful' Scale To Drive FCF & Capital Return Analyst Asserts | Benzinga
BMO Capital Markets analyst Phillip Jungwirth initiated coverage on Civitas Resources Inc (NYSE: CIVI) with an Outperform rating and a price target of $95.00.
The analyst believes the company's fundamentals appear much improved, with a more favorable operating environment (lower OFS costs) following higher negative capital efficiency revisions last year.
Also, the analyst expects crude balances to tighten and support higher oil prices through 2025.
Jungwirth thinks the company's DJ Basin positions it for strong returns and FCF, and the recent foray into the Permian ...