JPMorgan analyst Arun Jayaram lowered the firm’s price target on Diamondback Energy (FANG) to $161 from $167 and keeps an Overweight rating on the shares. The firm updated the company’s model post the Q1 report. The key takeaway from the Q1 print was the company’s supply response to the deterioration in oil market fundamentals amid the OPEC+ market share grab and economic uncertainty associated with tariffs, the analyst tells investors in a research note.
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