KeyBanc raised the firm’s price target on Diamondback Energy (FANG) to $225 from $196 and keeps an Overweight rating on the shares. With Q1 over, the firm is resetting its oil price deck. Much has changed since KeyBank’s last mid-January update. The firm sees dislocations for global crude and refined products persisting into summer and views the week-to-date oil/equities selloff as a head-fake and buying opportunity.
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