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Fly News Breaks for November 7, 2019
FANG
Nov 7, 2019 | 08:55 EDT
Raymond James analyst John Freeman lowered his price target for Diamondback Energy to $110 from $120, saying the company's weak Q3 oil production and 2020 oil volume guidance "spooked" the market, sending shares down 14%. Despite the slower growth profile, Freeman tells investors in a research note that Diamondback remains one of the few names that should be able to grow oil volumes by 10%+ while generating significant free cash flow in 2020 under strip. He keeps a Strong Buy rating on the shares.
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