Morgan Stanley raised the firm’s price target on Diamondback Energy (FANG) to $227 from $220 and keeps an Overweight rating on the shares after the company announced the acquisition of certain Midland assets from Double Eagle IV for about $4.1B, confirming reports from last week. The firm views the transaction constructively and estimate about 6% accretion to 2025-27 free cash flow per share at strip, the analyst tells investors.
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