KeyBanc raised the firm’s price target on Diamondback Energy (FANG) to $210 from $186 and keeps an Overweight rating on the shares. The firm notes shares have meaningfully outperformed since the start of 2023, and believes there is still room to slither. After adjusting its model for $449M of proceeds from the recent sale of Viper Energy (VNOM) shares and observing very strong well productivity trends, KeyBanc comes away incrementally bullish.
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