Canaccord Maintains Buy On Diamondback Energy Following Interim 4Q14 Update, Preliminary 2015 Guidance
Canaccord Genuity analyst Eli Kantor maintained a Buy rating on Diamondback Energy (NASDAQ:FANG) with an $80 price target, after the company provided an operational update for the quarter ended December 31, 2014, and announced preliminary financial and operating guidance for the full year of 2015.
Kantor observed, “Robust 2015 production guidance highlights FANG’s differentiated acreage position and supports our belief that the company’s breakeven costs sit 15%+ below the industry average. A highly impressive Andrews County Lower Spraberry result derisks another additional acreage and adds to the core Midland Basin opportunity set.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Eli Kantor has a total average return of 16.0% and a 42.9% success rate. Kantor is ranked #1257 out of 3425 analysts.