Citi analyst Scott Gruber upgraded Diamondback Energy (FANG) to Buy from Neutral with a price target of $180, up from $157. The firm says Diamondback remains a “top-tier” exploration and production company, as reflected in a break-even oil price at just $36 per barrel, the lowest in its coverage. This enables free cash generation even when crude prices are depressed, the analyst tells investors in a research note.
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