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Fly News Breaks for November 7, 2019
FANG
Nov 7, 2019 | 07:33 EDT
Oppenheimer analyst Tim Rezvan downgraded Diamondback Energy to Perform from Outperform and removed his $138 price target. Rezvan says he believes it is prudent to step to the sidelines after digesting Q3 results and lowering estimates. Rezvan tells investors that he can't justify buying the dip, as he now sees lower oil and earnings growth, and sees shares range-bound until the company shows it can exceed the hurdle of oil growth and capex expectations.
News For FANG From the Last 2 Days
FANG
Apr 23, 2024 | 09:58 EDT
Stifel raised the firm's price target on Diamondback Energy to $229 from $224 and keeps a Buy rating on the shares. The firm is updating its commodity estimates ahead of Q1 earnings to reflect strip prices through 2026 and revising its production and capital forecasts to reflect discussions with management, the analyst tells investors. Despite elevated valuations, oil and gas macro tailwinds continue to support sector outperformance, the firm adds.
