Diamondback Energy price target raised to $241 from $237 at Bernstein

Bernstein analyst Bob Brackett raised the firm’s price target on Diamondback Energy (FANG) to $241 from $237 and keeps an Outperform rating on the shares. While the firm acknowledges that there are a multitude of paths that oil markets can take from here — with the Strait of Hormuz staying closed for years as an extreme — Bernstein updates its models assuming a return to normal by mid-year.