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UPDATE: Morgan Stanley Initiates Coverage On Diamondback Energy On Compelling Investment Opportunity


In a report published Thursday, Morgan Stanley analyst Drew Venker initiated coverage on Diamondback Energy Inc. (NASDAQ: FANG) with an Overweight rating and $90.00 price target.

In the report, Morgan Stanley noted, "FANG warrants a substantial premium given its superior assets, mgmt and balance sheet. It offers oil exposure that should outperform in a sustained downturn and participate in are bound if prices improve."

Diamondback Energy closed on Wednesday at $74.92.

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