Raymond James analyst John Freeman lowered the firm’s price target on Diamondback Energy (FANG) to $214 from $245 and keeps a Strong Buy rating on the shares following the earnings report and oil price pullback. Diamondback beat the Street on Q4 earnings and cash flow, and Q4 production also beat Street estimates, the analyst tells investors in a research note. Diamondback has several near-term catalysts with pending non-core asset sales and a potential power joint venture, the firm says.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FANG:
- Diamondback Energy price target lowered to $215 from $219 at Wells Fargo
- Insider Moves: Diamondback, Southern Co, Northrop, Schwab, Synopsys
- Chord Energy price target lowered to $184 from $193 at Piper Sandler
- Coterra Energy price target raised to $37 from $34 at Piper Sandler
- Diamondback Energy price target lowered to $190 from $230 at Siebert Williams