Analysts Offer Insights on Materials Companies: Diamondback (NASDAQ: FANG) and Targa Resources (NYSE: TRGP)

By Ryan Adsit

There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Diamondback (FANGResearch Report) and Targa Resources (TRGPResearch Report) with bullish sentiments.

Diamondback (FANG)

In a report released yesterday, William Featherston from Credit Suisse maintained a Buy rating on Diamondback, with a price target of $52.00. The company’s shares closed last Monday at $18.58, close to its 52-week low of $14.55.

According to TipRanks.com, Featherston is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.6% and a 44.1% success rate. Featherston covers the Basic Materials sector, focusing on stocks such as Occidental Petroleum, Chesapeake Energy, and Whiting Petroleum.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Diamondback with a $82.43 average price target, implying a 419.1% upside from current levels. In a report issued on March 9, RBC Capital also maintained a Buy rating on the stock with a $60.00 price target.

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Targa Resources (TRGP)

Credit Suisse analyst Spiro M. Dounis maintained a Buy rating on Targa Resources yesterday and set a price target of $21.00. The company’s shares closed last Monday at $5.90, close to its 52-week low of $3.66.

According to TipRanks.com, Dounis is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -13.3% and a 38.9% success rate. Dounis covers the Basic Materials sector, focusing on stocks such as Enterprise Products Partners, Cheniere Energy Partners, and Oasis Midstream Partners.

The word on The Street in general, suggests a Hold analyst consensus rating for Targa Resources with a $29.43 average price target, a 515.7% upside from current levels. In a report issued on March 12, Raymond James also downgraded the stock to Buy.

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