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.
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Source Fool.com
Diamondback Energy Stock
€157.34
-2.150%
With 69 Buy predictions and not a single Sell prediction Diamondback Energy is an absolute favorite of our community.
As a result the target price of 175 € shows a slightly positive potential of 11.22% compared to the current price of 157.34 € for Diamondback Energy.
