Diamondback Energy (FANG) Bullish Stance Reiterated at Sterne Agee Following Meetings

Sterne Agee analyst Tim Rezvan reiterated a Buy rating and $98 price target on Diamondback Energy (NASDAQ: FANG) following meetings with management. The stock remains a Top Pick for 2015.

Rezvan commented, "We hosted investor meetings with CEO Travis Stice in the mid-Atlantic on Monday. Commentary reaffirmed our bullish view on FANG shares. Management shared our cautious near-term view on oil prices, but stated it continues to look actively at asset packages coming to market, especially from private equity-backed companies that lack capital to grow and/or an avenue for a near-term IPO. Viper units remain a potential capital-raising tool, albeit while Viper continues to look to grow its mineral rights position."

For an analyst ratings summary and ratings history on Diamondback Energy click here. For more ratings news on Diamondback Energy click here.

Shares of Diamondback Energy closed at $68.09 yesterday.

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