Wells Fargo has revised its price target for Diamondback Energy (FANG, Financial), reducing it from $215 to $207. Despite this adjustment, the firm maintains an Overweight rating on the company's stock.
The decision to alter the price target takes into account recent modifications to Diamondback Energy's operational model, as highlighted in its first-quarter update. Factors such as production levels, cost deflation trends, and spending forecasts were considered in this assessment.
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 $194.86 with a high estimate of $242.00 and a low estimate of $145.00. The average target implies an upside of 41.57% from the current price of $137.64. 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 $165.21, suggesting a upside of 20.03% from the current price of $137.64. 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.
