Diamondback Energy Inc. (NASDAQ:FANG) is one of the 10 oversold NASDAQ stocks to invest in right now.
On June 29, Morgan Stanley reduced the price target on Diamondback Energy Inc. (NASDAQ:FANG) from $229 to $216
Despite this downward adjustment, the price target yields more than 25% upside potential at the prevailing level. The firm also upheld an Overweight rating on the stock. Photo by David Thielen on Unsplash According to the firm, oil prices decreased after the United States and Iran reached an MOU on June 14.
It noted that WTI now remains marginally above the pre-conflict levels, which formed the basis for analysts’ adjustments. Earlier on June 22, Roth Capital increased its price target for Diamondback Energy Inc. (FANG) from $205 to $212, resulting in an upside potential of more than 23%. The firm had also upgraded the stock from Neutral to Buy.