Market Radar’s Take on Civitas Resources (CIVI) – A Buy Rating with a Price Target of $84.00

Recent Development in Civitas Resources (CIVI)

In a recent update, KeyBanc analyst Tim Rezvan maintained a Buy rating on Civitas Resources (CIVI), setting a price target of $84.00. This represents an upside potential of 49.54% from the current market price.

Analyst’s Outlook

Rezvan covers the Energy sector and has been focusing on stocks such as CIVI, SM Energy, and Talos Energy. According to KeyBanc, Rezvan has a strong track record in recommending stocks, with an average return of -8.7% and a 39.55% success rate.

Market Analysis

CIVI’s shares closed yesterday at $47.70. The company’s one-year high is $78.63, while its one-year low is $42.32. Currently, CIVI has an average volume of 1.23M.

Company Overview

Bonanza Creek Energy, Inc., the parent company of Civitas Resources, engages in the acquisition, exploration, development, and production of onshore oil and associated liquids. It holds interests in various formations across different regions.

Recent News and Updates

• A recent report by Piper Sandler maintained a Buy rating on CIVI with a price target of $70.00.
• Civitas Resources’ price target has been lowered to $78 from $84 at Mizuho, indicating potential upside.

Key Points to Consider

• Analysts are optimistic about CIVI’s growth prospects due to its exploration and production activities.
• The company’s recent news and updates suggest a positive sentiment towards the stock.
• However, investors should consider other factors such as market trends, economic conditions, and sector-specific analysis before making any investment decisions.