Piper Sandler raised the firm’s price target on Diamondback Energy to $247 from $227 and keeps an Overweight rating on the shares as part of a Q1 preview for the exploration and production group. Energy has been hot, almost too hot, as $90 crude potentially cools the pace of consolidation and investors looking for ways to play the data center and power demand theme turn to gas equities, the analyst tells investors in a research note. The firm adjusted oil and gas price assumptions, expecting crude pricing to remain strong through Q3 and gas pricing pressure to persist through the balance of fiscal 2024.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FANG:
- Diamondback Energy price target raised to $227 from $203 at Wells Fargo
- Diamondback Energy price target raised to $255 from $210 at Scotiabank
- Diamondback Energy price target raised to $217 from $200 at Mizuho
- Barclays starts U.S. Integrated Oil & E&P sector with Positive view
- Diamondback Energy initiated with an Equal Weight at Barclays