Barclays upgraded Diamondback Energy to Overweight from Equal Weight with a price target of $210, down from $216. The analyst believes Diamondback has one of the “clearest positive event paths” in the coming quarters as the company fully integrates Endeavor. The firm expects the company to unveil a 2025 program that’s much more capital efficient than initially estimated. The shares have been down in part due to recent liquidity event by Endeavor sellers, presenting an attractive buying opportunity, the analyst tells investors in a research note.
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