Stephens Initiates Overweight Coverage on Diversified Energy with $24 Price Target
Investment firm Stephens has started coverage of Diversified Energy, assigning an Overweight rating and a $24 price target. The firm noted the company's shares trade at a significant discount to peers based on key metrics. Diversified Energy's stock rose 1.9% in Thursday trading following the announcement.
Substrate placeholder — needs reviewcom reported that Stephens initiated coverage of Diversified Energy with an Overweight rating. Stephens set a $24 price target for Diversified Energy.
Stephens stated that Diversified Energy shares are valued at a wide discount to its natural gas group.
The valuation discount is based on enterprise value-to-estimated 2027 EBITDA. The valuation discount is also based on free cash flow metrics.
Energy (DEC) stock rose 1.
9% in Thursday's trading.
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