13 Cheapest Strong Buy Stocks to Buy Right Now

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6. Diamondback Energy, Inc. (NASDAQ:FANG)

On April 2, KeyBanc raised its price target on Diamondback Energy, Inc. (NASDAQ:FANG) to $225 from $196 while maintaining an Overweight rating, reflecting a more constructive outlook on oil markets. The firm noted that recent dislocations in global crude and refined product markets are likely to persist into the summer months and views the recent selloff in oil and equities as a temporary dislocation, presenting a potential buying opportunity for investors.

On March 30, Citi increased its price target on Diamondback Energy, Inc. (NASDAQ:FANG) to $230 from $178 while maintaining a Buy rating, incorporating higher oil price assumptions into its models. Similarly, on March 27, Morgan Stanley raised its price target to $220 from $171 with an Overweight rating, citing significantly improved fundamentals across oil, LNG, and refining markets. The firm highlighted that pricing dynamics have reached their strongest levels since 2022 and revised its 2026 commodity price assumptions materially higher, leading to substantial increases in EBITDA forecasts across its energy coverage.

Diamondback Energy, Inc. (NASDAQ:FANG) is an independent oil and gas exploration and production company focused on the Permian Basin, one of the most prolific hydrocarbon regions in the United States. With a strong asset base, efficient cost structure, and significant leverage to rising commodity prices, the company is well-positioned to benefit from favorable energy market dynamics. Supported by upward revisions to price targets and improving industry fundamentals, Diamondback offers a compelling investment case with meaningful upside potential.

While we acknowledge the potential of FANG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FANG and that has 100x upside potential, check out our report about the cheapest AI stock.

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