Vista Energy (VIST) has garnered a 'Buy' rating and an ambitious $88 price target from BofA, signifying a promising future for the company's stock. This renewed endorsement comes on the heels of Vista's significant strategic maneuver: the acquisition of Equinor's onshore operations within Argentina's Vaca Muerta basin. This pivotal move is projected to substantially bolster Vista's production capabilities and lay a robust foundation for sustained expansion in the dynamic shale oil and gas industry. The market's positive reception underscores confidence in Vista's enhanced asset portfolio and its potential for considerable shareholder returns.
On February 4th, BofA Global Research recommenced its coverage of Vista Energy, assigning a 'Buy' rating and setting an $88 price target. This valuation implies a remarkable upside potential exceeding 63% from the stock's current trading price. The upgrade directly responds to Vista's announcement on February 2nd regarding its successful acquisition of Equinor's onshore interests in the Vaca Muerta region of Argentina. This comprehensive deal, valued at $1.1 billion, encompasses Equinor's 30% stake in the prolific Bandurria Sur production asset and its 50% interest in the nascent Bajo del Toro field.
The strategic importance of these acquired assets is evident in their production metrics. During the third quarter of 2025, the Bandurria Sur assets alone recorded an impressive average daily output of 24,400 barrels of oil equivalent (boed). While still in its nascent stages of development, the Bajo del Toro field contributed an additional 2,100 net boed. Miguel Galuccio, the Chief Executive Officer of Vista Energy, articulated the company's perspective on the acquisition, emphasizing that these new blocks seamlessly integrate into Vista's existing portfolio. He highlighted that they not only contribute immediate production volumes but also provide a deep inventory of highly productive, drill-ready wells, which are crucial for underpinning the company's ambitious growth trajectory.
BofA's analysis reinforces the positive implications of this transaction upon its finalization, estimating a potential internal rate of return (IRR) of 24% for the acquired assets, based on their Brent crude price assumptions. This robust projection further solidifies the investment thesis for Vista Energy. The acquisition strategically positions Vista to capitalize on the vast untapped potential of the Vaca Muerta shale play, widely recognized as one of the most significant shale oil and gas developments globally outside of North America.
The recent acquisition and subsequent 'Buy' rating from BofA underline a significant turning point for Vista Energy. By integrating these high-value assets, Vista is well-positioned to expand its operational footprint, enhance its production volumes, and solidify its standing as a key player in the independent energy sector, particularly within the promising Vaca Muerta region.