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
174,32 €
-0,69 %
Starke Bevorzugung von Diamondback Energy in der Community mit ausschließlich Buy-Einschätzungen.
Das Kursziel von 184 € für Diamondback Energy weist auf eine leichte Verbesserung gegenüber dem aktuellen Kurs von 174.32 € hin.
