Diamondback Energy (FANG) PT Raised to $75 at Cowen

Cowen analyst David Deckelbaum raised the price target on Diamondback Energy (NASDAQ: FANG) to $75.00 (from $60.00) while maintaining an Outperform rating.

The analyst commented, "We expect FANG to post a constructive 4Q update on the pending Guidon/QEP deals though formal guidance likely arrives post deal-close in March/April. Still, we see identifiable opportunities to easily eclipse communicated synergies and expect a more capital efficient program in 2021 vs. expectations to continue expanding the 10% relative o/p in the last month to large cap E&P peers."

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