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HighPeak Energy Could Become An Acquisition Target – Analyst Determines The Premium

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Truist Securities analyst Neal Dingmann upgraded HighPeak Energy, Inc (NASDAQ:HPK) to Hold from Sell, raising the price forecast to $13 from $10.

Per Dingmann, HighPeak has found a bit of its stride after struggling last year with various operational and financial issues. The company has currently improved operations, resulting in lower spending and lower costs.

The analyst forecasts production remaining relatively flat this year before moderating declining next year, though if prices remain firm and costs/spend contained, then FCF should remain decent enough to generate a high single-digit yield.

While data suggests that well productivity, on average, has moderately decreased …

Full story available on Benzinga.com

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