Evercore ISI raised the firm’s price target on Diamondback Energy to $215 from $185 and keeps an Outperform rating on the shares. The driver of energy markets remains products and the confluence of strong seasonal demand ahead, and the potential for further outages, is “clearly fueling tactical optimism,” the analyst tells investors. In upstream, the firm continues to see momentum “cycling into some of the cleaner commodity plays” in the equity market, the analyst added.
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