** Shares of Permian Basin-focused land and royalty company Texas Pacific Land TPL.N up 3.8% at $519.06

** KeyBanc Capital Markets raises PT on TPL to $639 from $350

** New PT represents an upside of 27.8% to stock's last close on Friday

** "We see Texas Pacific as ideally positioned from a land and water perspective and believe Sum-of-The-Parts valuation is warranted, which suggests further upside" - KeyBanc Capital Markets

** Brokerage says it has seen major positive developments in the power-generation and data center opportunity on TPL's surface acreage, alongside continued strength in its water business

** 3 of 4 brokerages rate the stock "buy" or higher and 1 "sell"; median PT is $352.06 - LSEG data

** Including session's moves, TPL up 80.2% YTD