Truist initiated coverage of Diamondback Energy (FANG) with a Buy rating and $222 price target The stock stands out as the last large-cap Permian pure-play E&P with core assets in the Midland and a secondary position in the Delaware Basin, the analyst tells investors in a research note. Given a top tier asset base with peer-leading resource depth and breakevens, Diamondback is the firm’s “favorite large-cap name”, Truist added.
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