Diamondback Energy price target raised to $250 from $240 at Truist

Truist raised the firm’s price target on Diamondback Energy to $250 from $240 and keeps a Buy rating on the shares after the company announced a $26B acquisition of Endeavor Energy Resources. The firm sees a plethora of cost savings and other benefits to accompany the pro-forma company, the analyst tells investors in a research note, adding that Truist believes the increased scale will provide benefits such as better OFS pricing power, improved potential drilling and completions designs, material potential mineral drop downs, and potential midstream monetization