Diamondback Energy price target raised to $225 from $215 at Truist

Truist raised the firm’s price target on Diamondback Energy to $225 from $215 and keeps a Buy rating on the shares. The analyst sees “no divergence” going forward to Diamondback’s industry leading operations given that the company has “at least five years of solid inventory and continued notable cost benefits generation”. The company has dialed in development plans to include 24 well average projects that not only recognize improvements from multi-simul frac operations, but also have the ability to modify programs mid-cycle to take advantage of completing more high return wells, the firm tells investors in a research note.