Wunderlich Securities Sees Multiple Positive Factors for Diamondback Energy

In a report published Monday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating and $110.00 price target on

. In the report, Wunderlich Securities noted, “Diamondback Energy (FANG) has seen a selloff in both its stock and its Viper Energy Partners (VNOM-$20.70, Buy) ownership as oil prices have come under pressure. While we continue to understand the macro trends and concerns from investors about the future of oil prices we believe both stocks have seen sell offs that are significantly overdone, providing a nice opportunity for investors willing to take the risk as the world searches for a bottom for oil and by proxy the stocks. Diamondback remains one of the best run, financially strong companies in the industry in our view and recent news from VNOM indicates that Diamondback's work in the Permian is continuing to provide strong growth in production and cash flow. We expect Diamondback to confirm these indicators in the near term.” Diamondback Energy closed on Friday at $63.35.