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
€120.36
-2.970%
The stock is one of the favorites of our community with 67 Buy predictions and 1 Sell predictions.
With a target price of 189 € there is a hugely positive potential of 57.03% for Diamondback Energy compared to the current price of 120.36 €.
