Seeking Alpha

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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