Mizuho Raises Price Target on Permian Resources to $25, Maintaining Outperform Rating

Mizuho lifted the PT on Permian Resources Corporation (PR) to $25 from $23, maintaining an Outperform rating. The firm upped its 2026 oil price outlook by 14% to $73.25 due to the Iran conflict. Mizuho remains positive on the oil and gas sector, lowering its fiscal 2026 price outlook by 6%. Permian Resources is an independent natural gas and oil company with a majority of its assets in the Delaware Basin in New Mexico and Texas.