Truist analyst Neal Dingmann raised the firm’s price target on Diamondback Energy to $230 from $220 and keeps a Buy rating on the shares. The firm notes that the company’s Endeavor integration is well on schedule as hundreds of people, and offices have all been moved in the matter of days, and Truist is forecasting flattish forward production generated by decreasing capital along with multiple catalysts including potential power generation, the analyst tells investors in a research note. This week’s price decline also provides investors an opportune entry point on the stock that is at nearly the same price as last month’s equity offering, in which the company notably participated, the firm added.
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