Civitas Resources Focuses On Debt Paydown, Asset Sales For FY25 Growth: Analyst

J.P. Morgan analyst Zach Parham retained a Neutral rating on Civitas Resources, Inc. CIVI with a price forecast of $49.The analyst writes that CIVI’s goal remains consistent with its fourth-quarter update, maintaining its focus on debt reduction over share buybacks.The analyst notes that the company aims to generate FCF and reduce debt by $800 million in FY25, which he sees as achievable at current strip pricing.Parham says asset sales remain a focus for the company, with a goal of over $300 million for FY2 ...