Raymond James Thinks Diamondback’s Stock is Going to Recover
In a report released today, John Freeman from Raymond James maintained a Buy rating on Diamondback (FANG), with a price target of $45.00. The company’s shares closed last Wednesday at $28.14, close to its 52-week low of $14.55.
According to TipRanks.com, Freeman has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -22.5% and a 20.3% success rate. Freeman covers the Utilities sector, focusing on stocks such as Black Stone Minerals, Southwestern Energy, and Concho Resources.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Diamondback with a $50.64 average price target, implying a 79.5% upside from current levels. In a report issued on October 14, Citigroup also maintained a Buy rating on the stock with a $46.00 price target.
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The company has a one-year high of $96.92 and a one-year low of $14.55. Currently, Diamondback has an average volume of 2.45M.
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Diamondback Energy, Inc. is an independent oil and natural gas company, which engages in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas. The Midstream Services segment involves in the Midland and Delaware Basins. The company was founded in December 2007 and is headquartered in Midland, TX.
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