Earthstone Energy (ESTE) Upgrade - Dec 22

[dan_s]

From RBC Capital Markets dated 12-22-2020

Our updated model shows the "IRM" acquisition was highly
accretive to our CFPS estimates by 10%/4% in 2021/2022. The transaction
also builds operational scale, should improve trading liquidity, and shows
ESTE can accretively build on its core Permian acreage. We increased our
target by $2/share to $8, reflecting the CF accretion and operational scale.

My valuation before the acquisition was $8.00 per share.

[dan_s]

Truist Securities raised its price target on Earthstone Energy (NYSE: ESTE) to $9.00 (from $5.00) while maintaining a Buy rating.