KeyBanc raised the firm's price target on Texas Pacific Land to $639 from $350 and keeps an Overweight rating on the shares. The firm says it has observed significant positive updates on the generational power gen/data center opportunity on Texas Pacific's surface acreage since its initiation, married with strong current water segment trends. KeyBanc sees Texas Pacific as ideally positioned from a land and water perspective and believes sum-of-the-parts valuation is warranted, which suggests further upside.
