Here is Why Viper Energy (VNOM) is Among the Best American Energy Stocks to Buy According to Wall Street Analysts

Viper Energy, Inc. (NASDAQ:VNOM) is included among the 15 Best American Energy Stocks to Buy According to Wall Street Analysts.

Viper Energy, Inc. (NASDAQ:VNOM) is a publicly traded Delaware corporation focused on owning and acquiring mineral and royalty interests, primarily in the Permian Basin.

On April 2, KeyBanc analyst Tim Rezvan increased the firm’s price target on Viper Energy, Inc. (NASDAQ:VNOM) from $56 to $65, while maintaining an ‘Overweight’ rating on the shares.

The revised target, which indicates an upside of 31% from the current levels, comes as the analyst firm updated its oil price deck following the end of the first quarter. With the ongoing conflict in the Middle East and its impact on energy markets, a lot has changed since KeyBanc’s last update in mid-January.

The firm expects the current imbalances in the global crude and refined products markets to continue into the summer. Moreover, it considers the recent week-to-date decline in oil and equities to be a temporary dip and a buying opportunity for investors.

Similarly, Morgan Stanley also raised its price target on Viper Energy, Inc. (NASDAQ:VNOM) earlier on March 27 (read the details here).

READ NEXT: 15 Best S&P 500 Stocks to Buy Right Now and 15 Utility Stocks with Highest Dividends

Disclosure: None. Follow Insider Monkey on Google News.