Diversified Energy initiated with an Outperform at William Blair

William Blair analyst Neal Dingmann initiated coverage of Diversified Energy (DEC) with an Outperform rating. The company acquires, manages, and improves existing long-life, low-decline oil and gas assets, the analyst tells investors in a research note. The firm expects Diversified to announce another large accretive acquisition. Blair sees fair value for the shares at $24, or 56% upside from current levels.