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Wildbilly

05/16/13 1:15 PM

#64 RE: Wildbilly #63

Wunderlich raises target to $35 from $25

Diamondback Energy (FANG +3.2%) is raised to Buy from Hold with a $35 target price (from $25) at Wunderlich, which believes strong results from 13 Wolfcamp B-targeted horizontal wells (11 operated) shows the operational expertise, asset strength and horizontal potential for FANG, while the recent equity offering puts it in a position to fund and accelerate its growth.