Jefferies analyst Lloyd Byrne raised the firm’s price target on Diamondback Energy (FANG) to $173 from $143 and keeps a Hold rating on the shares as part of a Q4 preview. The firm says the company’s asset quality and duration “remain differentiated.” Diamondback is in a “favorable relative position” after hitting its divestiture target and setting a path to de-lever further, the analyst tells investors in a research note. Jefferies cites its oil macro concerns for the Hold rating.
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