Barclays Lifts PT on Diamondback Energy (FANG) to $190 From $185 – Here’s Why

Diamondback Energy, Inc. (NASDAQ:FANG) is one of the most undervalued energy stocks to buy now. Barclays lifted the price target on Diamondback Energy, Inc. (NASDAQ:FANG) to $190 from $185 on March 13, maintaining an Overweight rating on the shares and telling investors in a research note that it raised 2026 oil price estimates due to the Iran war. It believes that cash flow tailwinds for the exploration and production group are continuing to remain underappreciated, and while the oil spike is “unlikely to last for long”, the firm believes that the market is underappreciating the cash flow benefit, as well as the “durable benefit” it will have on the group’s capacity to raise cash returns beyond the conflict.

Diamondback Energy, Inc. (NASDAQ:FANG) also received a rating update from Piper Sandler on March 12. The firm lifted the price target on the stock to $248 from $215 and maintained an Overweight rating on the shares. It cited its increased price deck for the target bump and lifted its mid-cycle crude price forecast to $75 per barrel from $70 amid the Iran war. Piper anticipates lasting supply impacts and stated that higher prices are required to incentivize investment in production.

Diamondback Energy, Inc. (NASDAQ:FANG) is an independent oil and natural gas company that is involved in the development, acquisition, exploration, and exploitation of unconventional, onshore oil and natural gas reserves. The company’s operations are divided into the Upstream and Midstream Services segments.

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