Diamondback Energy upgraded at SunTrust As previously reported, SunTrust upgraded Diamondback Energy to Buy from Neutral. The firm upgraded shares based on increased value for its royalty interest which could boost shares substantially. Price target raised to $89 from $76.
Diamondback Energy files to sell 1.5M shares Diamondback intends to use the net proceeds from this offering to repay a portion of the outstanding borrowings under its revolving credit facility. Credit Suisse Securities (USA) LLC is acting as sole book-running manager for the offering.