Why Diamondback Energy Stock Dipped on Wednesday
Following along with an analyst's price target reduction, investors became slightly less bullish on Diamondback Energy's (NASDAQ: FANG) future on Hump Day. They traded out of the stock to leave it with a more than 5% loss that session. Other stocks did better, as the S 500 index closed with a 0.5% increase.
That morning, prognosticator Tim Rezvan, with 's KeyBanc Capital Markets, made the move, lowering his Diamondback price target to $176 per share from the preceding level of $180. That wasn't enough of a cut to change the analyst's recommendation, apparently, as he maintained his overweight (buy) rating on the oil and gas company's equity.
Image source: Getty Images.
Source Fool.com
Diamondback Energy Aktie
130,86 €
-1,98 %
Diamondback Energy sticht hervor mit 63 Buy- und nur 1 Sell-Einschätzungen.
Die Community erwartet für Diamondback Energy ein Kursziel von 181 €, was eine Steigerung von über 20% gegenüber 130.86 € bedeuten würde.
