JPMorgan Reaffirms Buy Rating on Vista Energy (VIST), Keeps $68 Target

Core Viewpoint - Vista Energy, S.A.B. de C.V. is highlighted as a strong investment opportunity, with JPMorgan reaffirming a Buy rating and maintaining a price target of $68 for the stock [1][2]. Group 1: Growth Strategy - Vista Energy has announced a long-term growth plan aiming to increase oil production by 50% by 2030, targeting an increase from approximately 114,000 barrels of oil equivalent per day (boe/d) in 2025 to over 200,000 boe/d by 2030 [2]. - By 2028, the company aims for a production level of around 180,000 boe/d and anticipates generating approximately $2.8 billion in revenue [2]. - The firm projects cumulative free cash flow of $1.5 billion from 2026 to 2028, supported by enhanced scale and operational efficiencies [2][3]. Group 2: Operational Plans - The growth plan includes accelerating drilling activities in Argentina's Vaca Muerta shale formation, with plans to drill 80 to 90 wells annually [3]. - Annual capital expenditures are projected to be around $1.5 billion for the next three years, with management indicating that acquisitions are not necessary to achieve production targets [3]. Group 3: Company Overview - Vista Energy is an independent oil and gas company based in Mexico, focusing on the exploration and production of crude oil, natural gas, and LPG, primarily operating in Mexico and Argentina [4]. - The company is involved in identifying, acquiring, and developing oil and gas fields across Latin America [4].