Truist has increased its price target for Diamondback Energy (FANG, Financial), setting the new target at $242, up from a previous $238. The financial firm maintains a Buy rating on the stock, reflecting a positive outlook for the energy company.
The decision follows a review of Diamondback Energy's pre-released data, which indicates the company may further explore stock buybacks if favorable conditions persist. In the first quarter, the company's oil production slightly exceeded expectations, while its quarterly capital expenditures were reported to be lower than anticipated. These factors contribute to an optimistic view of Diamondback's financial performance and growth potential.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 28 analysts, the average target price for Diamondback Energy Inc (FANG, Financial) is $198.47 with a high estimate of $242.00 and a low estimate of $145.00. The average target implies an upside of 52.41% from the current price of $130.22. More detailed estimate data can be found on the Diamondback Energy Inc (FANG) Forecast page.
Based on the consensus recommendation from 31 brokerage firms, Diamondback Energy Inc's (FANG, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Diamondback Energy Inc (FANG, Financial) in one year is $167.55, suggesting a upside of 28.67% from the current price of $130.22. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Diamondback Energy Inc (FANG) Summary page.
