FINWIRES · TerminalLIVE
FINWIRES

RBCによると、原油価格の高騰が続けば、ダイアモンドバック・エナジーはさらなる成長機会を追求できる可能性がある。

By

-- RBCキャピタル・マーケッツは火曜日のレポートで、ダイアモンドバック・エナジー（FANG）が成長路線を選択したことは驚くべきことではなく、原油価格の高騰が続く限り、さらなる成長への意欲と能力は十分にあると述べた。 同社によると、経営陣は「信号機」のような戦略から脱却し、成長を支えるだけの在庫期間と品質を確保している。これは今後数年間のフリーキャッシュフローを増加させる、企業価値を高める決定であるとRBCは指摘した。 RBCは、日量98万8000バレル相当の生産量を予測しており、これは2026年の新たなガイダンスである日量97万2000バレル相当を上回り、39億ドルの設備投資計画に沿ったものであるとレポートで述べている。 RBCによると、新たな計画は株主価値を高めるためのより機会主義的なものであり、変動配当は見送られる。 同社は第2四半期初めに約13億ドルの社債を償還する見込みだとRBCは述べている。経営陣が掲げる長期的な純負債目標である100億ドルも前倒しされ、数ヶ月以内に達成される見込みだ。証券会社によると、2030年以前の償還期限を迎える債券の一部も目標に掲げる可能性があるという。 RBCはダイアモンドバック・エナジーの投資判断を「アウトパフォーム」に据え置き、目標株価を240ドルとした。 ダイアモンドバック・エナジーの株価は水曜日の取引で5.7%下落した。

Price: $194.55, Change: $-11.64, Percent Change: -5.64%

Related Articles

Australia

Advanced Micro Devices Set to Command Half of Growing Server CPU Market, BofA Says

Advanced Micro Devices (AMD) is expected to capture about half of the total addressable market for server central processing units, which the company expects will exceed $120 billion by 2030, BofA Securities said in a note emailed Wednesday.The chip maker's updated forecast for server CPU TAM is double its previous estimate amid rising agentic artificial intelligence demand, according to the brokerage.The server CPU market is now expected to grow more than 35% annually, reaching over $120 billion by 2030, AMD Chief Executive Lisa Su said late Tuesday during an earnings call, according to a FactSet transcript.The company previously expected market growth of 18% annually over the next three to five years.BofA expects AMD to capture a roughly 50% share of the server CPU market, with the remaining half split between rivals Intel (INTC) and Arm (ARM)."Rising CPU TAM is good for all CPU vendors, but we expect AMD to maintain/expand share on (the) back of broad portfolio, rising enterprise focus, continued cloud leadership and consistent roadmap execution," BofA analyst Vivek Arya wrote. "Separately, we expect AMD to potentially announce other large customers for GPUs for (2027) and beyond."Shares of AMD surged 18% in Wednesday afternoon trade.The company reported stronger-than-expected first-quarter results late Tuesday, as demand for AI infrastructure pushed data center revenue higher year over year."Inferencing and agentic AI are increasing the need for server CPU compute as these workloads require additional CPU processing for orchestration, data movement, and parallel execution in addition to serving as the head nodes for GPUs and accelerators," Su told analysts during the earnings call. "As a result, we are seeing both stronger near-term demand and deeper engagement with customers on long-term capacity planning."AMD currently represents about 6% of the AI TAM, and that figure is expected to grow toward double digits by 2030, Arya said.Still, AMD remains "exposed to uncertain share allocation between numerous OpenAI suppliers" including Nvidia (NVDA), Broadcom (AVGO) and Cerebras Systems, he said.Following AMD's first-quarter results, BofA raised the company's 2026 and 2027 pro-forma earnings per share estimate by 9% each to $7.28 and $11.80. The brokerage is projecting AMD's 2030 EPS potential at more than $27, above management's $20-plus target.BofA reiterated AMD's buy rating and lifted the price target to $450 from $310.Price: $417.82, Change: $+62.56, Percent Change: +17.61%

$AMD$ARM$AVGO$INTC$NVDA
Oil & Energy

OPEC Production Slumps to 36-Year Low on Iran Conflict Impact, Bloomberg Survey Says

OPEC crude production slumped to its lowest level in 36 years last month as an ongoing Iran conflict choked off Persian Gulf exports and forced a wave of supply shut-ins, a Bloomberg survey showed on Wednesday.Output from the Organization of the Petroleum Exporting Countries fell by 420,000 barrels per day in April to an average of 20.55 million b/d. The total marks the group's lowest production ceiling since 1990, led by deepening supply disruptions in Kuwait and Iran.Last week, the producer group also faced another setback when the UAE announced its formal departure. Bloomberg's April survey includes figures for the UAE for the final month before its exit takes effect on May 1.Kuwait registered the group's steepest decline in April, with output falling by 470,000 b/d to an average of 800,000 b/d.Iran followed, after initially sustaining exports in the early phase of the conflict while restricting use of the strait by others, but has since come under mounting pressure from a US-led blockade on shipments.However, despite the continued closure of the Strait of Hormuz, OPEC agreed over the weekend to a nominal increase in output quotas for June.The symbolic move is intended to maintain the alliance's pre-war strategy of restoring production, though analysts noted the hikes remain largely "on paper" given the current maritime blockade.

Research

Research Alert: CFRA Maintains Strong Buy Opinion On Shares Of Arista Networks, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our 12-month target at $175, based on 48.2x our 2026 EPS estimate. We increase our 2026 EPS estimate by $0.10 to $3.63 and 2027's by $0.17 to $4.42. While ANET was able to raise its full-year guidance, it was lower than we expected due to some notable challenges. It experienced industry-wide supply shortages, particularly in wafers, silicon chips, CPUs, optics, and memory. These shortages increased procurement costs and limited its ability to fully meet strong customer demand. Gross margin was under pressure due to a combination of higher supply chain costs (especially for memory and silicon) and a shift in customer mix toward larger accounts, which tend to have lower margins. It also paid more to secure supply continuity, further impacting margins. Lead times for critical components, particularly high-end chips used in AI platforms, were extremely long, sometimes extending to 52 weeks or more, requiring ANET to make multiyear purchase commitments and increasing the risk of inventory imbalances.

$ANET