Texas Pacific Land Corp. (TPL) Update - Apr 1
Posted: Thu Apr 01, 2021 8:52 am
Note from my friends at Stifel
Texas Pacific Land Corporation (TPL, $1,589.43, Hold; Target $1,359.00)
Lowering TPL to Hold following strong share price appreciation - Derrick Whitfield
We are lowering our rating from Buy to Hold following a +250% increase in the share price since October 28, 2020. Of importance, we encourage investors to note that the recent outperformance (+70% versus its closest peer since February 1, 2021) was driven by technical factors (index buying), which could result in a better entry point for fundamental investors.
Texas Pacific Land Corporation (TPL, $1,589.43, Hold; Target $1,359.00)
Lowering TPL to Hold following strong share price appreciation - Derrick Whitfield
We are lowering our rating from Buy to Hold following a +250% increase in the share price since October 28, 2020. Of importance, we encourage investors to note that the recent outperformance (+70% versus its closest peer since February 1, 2021) was driven by technical factors (index buying), which could result in a better entry point for fundamental investors.