KeyBanc Starts Diamondback Energy (FANG) at Overweight

KeyBanc initiated coverage on Diamondback Energy (NASDAQ: FANG) with an Overweight rating and a price target of $91.

Analyst Chris Stevens said, "Trading at the second lowest EV/EBITDAX multiple in 2017 (FANG E&P trading 12.3x/8.3x 2016/2017 EV/EBITDAX at strip vs. peers at 13.3x/10.7x), we do not believe the true growth potential is reflected in shares, especially considering our 2016 production estimate is 19% above consensus."

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 $71.67 yesterday.

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