Roth Capital Downgrades Diamondback Energy (FANG) Stock to Neutral from Buy

Diamondback Energy, Inc. (NASDAQ:FANG) is one of the Best Long Term Growth Stocks to Invest In According to Billionaires. On April 8, Roth Capital analyst Leo Mariani downgraded the company’s stock to “Neutral” from “Buy” with a price objective of $200, an increase from the previous target of $180. As per the firm, oil prices seem to have peaked, with several oil-focused exploration and production stocks rising over the past weeks, backed by the commodity’s strength.

Furthermore, there has been no lasting damage to the critical Middle East oil infrastructure, believes Roth Capital, while adding that more oil shipments could begin transiting the Strait of Hormuz soon.  It downgraded some stocks that are trading close to their 52-week highs.

In a separate release, BMO Capital lifted its price objective on Diamondback Energy, Inc. (NASDAQ:FANG)’s stock to $205 from $200, while maintaining an “Outperform” rating. This forms part of the research note, where the firm adjusted its models after the revised Q1 mark-to-market assumptions, reflecting the geopolitical tensions in the Middle East.

Diamondback Energy, Inc. (NASDAQ:FANG) is an independent oil and natural gas company.

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