Jefferies Reinstates Diamondback Energy (FANG) at Hold

Jefferies analyst Lloyd Byrne reinstates coverage on Diamondback Energy (NASDAQ: FANG) with a Hold rating and a price target of $18.00.

The analyst said: "In our view, FANG replaces PXD as the Tier 1 pure-play Permian producer. We believe adding Endeavor makes FANG better as the company applies its industry-leading ops, magnifying the merger's synergy potential. While transformative, the uplift is at least partly reflected in the re-rating. Investor focus is currently on the Stephen family's ownership/timing (transitory)."

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 $172.42 yesterday.

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