Diamondback Energy Inc (FANG)

[Wildbilly]

Diamondback Energy's target raised to $80 at Mizuho
• 9:54 AM

Diamondback +5% as higher production guidance prompts analyst praise

Diamondback Energy's (FANG ) target price is raised to a Street-high

$80 from $74 at Mizuho, which cites FANG's better than expected

guidance in its operations update yesterday.

The firm says FANG's well results continue to impress, particularly

the Nail Ranch 2601H Wolfcamp B well in Martin County, which

resembles some of FANG's best wells to date given its short lateral;

FANG also continues to add acreage, picking up another 1,500 net

acres in Martin County and 126 net mineral acres at the Spanish

Trail lease (Briefing.com).

Brean Capital also raises its target price, to $73 from $66.