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UBS: Viper Energy Could Strike Next Year

Viper Energy Partners LP VNOM reported better than expected earnings on October 24, with earnings per share of 24 cents versus consensus of 22 cents.

The Analyst

UBS' Shneur Gershuni upgraded the stock from Neutral to Buy and increased the price target from $19 to $27.

The Thesis

The analyst expects higher crude oil prices in 2018 and 2019 and an increase in Viper Energy Partners LP's oil and gas production. Gershuni increased his distribution growth expectations and now expects a 2017-21 DPU CAGR of 17 percent. Source

The price will reach the lower edge of the rising channel and will try to break it out. 

$VNOM, VIPER ENERGY PARTNERS LP / D