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Fly News Breaks for June 17, 2019
FANG, EGN
Jun 17, 2019 | 07:40 EDT
Credit Suisse analyst Betty Jiang started coverage of Diamondback Energy (FANG) with an Outperform rating and $135 price target. The analyst notes that the company has one of the lowest oil price break-evens in the E&P universe as she estimates it can maintain Q4 production and support 10% dividend growth at $38/bbl in 2020. Inventory depth should no longer be a concern following Energen (EGN), Ajax & ExL acquisitions, she adds.