UPDATE: Goldman Sachs Reinstates Diamondback Energy (FANG) at Buy

April 20, 2021 2:25 AM EDT
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Price: $86.18 -0.82%

Rating Summary:
    41 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 15 | Down: 13 | New: 24
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(Updated - April 20, 2021 3:30 AM EDT)

Goldman Sachs analyst Neil Mehta reinstates coverage on Diamondback Energy (NASDAQ: FANG) with a Buy rating and a price target of $99.00.

The analyst comments "We believe FANG's counter-cyclical acquisitions are accretive to FCF/corporate returns and provide line-of-sight to leverage reduction and incremental return of capital to shareholders. Given FANG's attractive FCF, recent favorable production/capex execution and improved inventory outlook post the acquisitions, we see potential for shares to trade inline with large-cap peers (PXD/EOG/DVN) on FCF and benefit from debt reduction."

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 $77.67 yesterday.

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