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
126,70 €
1,07 %
Starke Kaufneigung bei Diamondback Energy, mit mehr Buy- als Sell-Einschätzungen.
Ein Kursziel von 189 € für Diamondback Energy würde eine Steigerung von mehr als 20% gegenüber dem aktuellen Kurs von 126.7 € bedeuten.
