Analysts optimistic about Diamondback's upcoming Viper IPO


Diamondback Energy's (FANG +1.3%) price target is raised to $90 at Mizuho and $86 at Topeka Capital, as both firms believe the success of the recent PrairieSky Royalty Trust IPO implies a considerably higher valuation for the upcoming IPO of FANG's Viper Energy Partners than had been expected.

Mizuho sees the Viper IPO as an immediate catalyst, and expects the deal will price in the coming weeks.

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