Diamondback Energy (FANG) PT Raised to $106 at Northland Capital Markets

Northland Capital Markets analyst Jeff Grampp raised his price target on Outperform-rated Diamondback Energy (NASDAQ: FANG) to $106.00 (from $87.00) on the Viper Energy Partners IPO.

Grampp commented, "We are increasing our price target on FANG from $87 to $106 to reflect the significant value captured through the IPO of Viper Energy Partners. FANG's mineral interests acquired in September 2013 are now owned by VNOM, with FANG owning ~92% of the outstanding units in the newly formed entity. The transaction is highly accretive to FANG, in our view, and presents future opportunities for additional value creation."

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 $87.69 yesterday.

You May Also Be Interested In

• Diamondback Energy (FANG) PT Raised to $225 at KeyBanc
• Boeing (BA) PT Lowered to $240 at Stifel
• Equifax (EFX) PT Lowered to $263 at Citi