Morgan Stanley Trims Viper Energy Price Target to $46, Keeps Overweight Rating

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Summary · why it matters

Morgan Stanley lowered its price target on Viper Energy to $46 from $49 while maintaining an Overweight rating. The revised target still implies more than 8% upside from current levels. The adjustment reflects updated estimates following a roughly 60% retreat in WTI crude from its April peak, with prices now only slightly above pre-conflict levels after a US-Iran memorandum of understanding. Viper Energy recently raised the midpoint of its fiscal 2026 oil production guidance by about 2.5%, citing increased near-term activity by Diamondback and continued development of its high-concentration royalty interests in the Permian Basin.

Impact on assets 3

Energy▲
Viper Energy Ut
VNOM
± MixedCapitalrelevance

Morgan Stanley lowered price target to $46 from $49 but maintains Overweight rating, implying >8% upside

Diamondback Energy Inc
FANG
▲ PositiveDemandrelevance

Increased near-term activity by Diamondback cited as driver of Viper's production guidance raise

Others▼
⛏Crude Oil WTI Futures
WTI
▼ NegativeSupplyrelevance

WTI crude retreated ~60% from April peak, now only slightly above pre-conflict levels after US-Iran MOU