UBS Raises Diamondback Energy (FANG) Target, Signals Continued Confidence

Diamondback Energy, Inc. (NASDAQ:FANG) is included among the 13 NASDAQ Stocks with Highest Dividends.

On April 10, UBS raised the firm’s price recommendation on Diamondback Energy, Inc. (NASDAQ:FANG) to $245 from $240. It maintained a Buy rating on the shares.

On April 8, Roth Capital analyst Leo Mariani downgraded Diamondback Energy to Neutral from Buy, while raising the price target to $200 from $180. The firm said it believes oil prices have likely peaked. It added that oil is “near the peak” as a potential Iran ceasefire develops. The analyst noted that several oil-focused exploration and production stocks have moved higher in recent weeks, supported by strength in the commodity. Roth also said it does not expect lasting damage to key Middle East oil infrastructure and believes that “a lot more oil can start transiting the Strait of Hormuz soon.” With stocks trading near 52-week highs, the firm chose to downgrade a number of names in the group.

Diamondback Energy, Inc. (NASDAQ:FANG) is an independent oil and natural gas company. It focuses on the acquisition, development, exploration, and production of unconventional, onshore oil and natural gas reserves, mainly in the Permian Basin in West Texas.

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