Morgan Stanley Raises PT on Permian Resources Corporation (PR) to $18 From $17

Permian Resources Corporation (NYSE:PR) is one of the best high growth low PE stocks to invest in now. On August 18, Morgan Stanley raised the firm’s price target on Permian Resources Corporation (NYSE:PR) to $18 from $17, keeping an Overweight rating on the shares.

The firm told investors that a number of oil and gas producers highlighted cash flow tailwinds from reduced taxes and efficiency gains with Q2 results, with 2026 free cash flow expectations among the group growing by an average of 7% at flat commodity prices.

However, the firm added that the sector is already reflecting a considerable amount of this uplift as it has been outperforming oil by about 7% over the past two weeks.

Permian Resources (NYSE:PR)  is an independent natural gas and oil company specializing in acquiring, optimizing, and developing oil and natural gas properties.

A significant majority of the company’s assets are concentrated within the Delaware Basin in Eddy and Lea Counties, New Mexico, and Reeves and Ward Counties, Texas.

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Disclosure: None. This article is originally published at Insider Monkey.