Market Overview

UPDATE: Wunderlich Securities Reiterates On Diamondback Energy As VNOM Provides Value Creation

These 12 Stocks Struck All-Time Highs In 2017, But Analysts Still See Upside
How To Use A Basic PEG Screen To Find Value Stocks
Diamondback Energy: An Even Better Stock For Oil Bulls (Seeking Alpha)

In a report published Tuesday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating on Diamondback Energy (NASDAQ: FANG), and raised the price target from $85.00 to $110.00.

In the report, Wunderlich Securities noted, “Diamondback Energy (FANG) continues to move forward in the Midland Basin where it has become a premier operator of horizontal wells. Additionally, the company has shown its ability to create and boost the value of its assets through the recent public offering of a portion of its mineral rights in the Permian.

"The newly formed vehicle, named Viper Energy Partners (VNOM-NR), was very well received and shows the value of acreage and exposure to the Permian Basin. While the deal makes Diamondback continue to look compelling from a valuation standpoint, it also provides a long-term financing vehicle that Diamondback can use to fund its active drilling program going forward. This causes us to move our price target up again from $85 to $110 as the story continues to move forward.”

Diamondback Energy closed on Monday at $88.80.

Latest Ratings for FANG

Dec 2017Credit SuisseInitiates Coverage OnOutperform
Dec 2017CitigroupInitiates Coverage OnBuy
Nov 2017BarclaysUpgradesEqual-WeightOverweight

View More Analyst Ratings for FANG
View the Latest Analyst Ratings

Posted-In: Jason A. Wangler Wunderlich SecuritiesAnalyst Color Price Target Analyst Ratings


Related Articles (FANG)

View Comments and Join the Discussion!