Several investment firms have updated their stock ratings and price targets on shares of Southwestern Energy (NYSE: SWN) in the last week:
- Southwestern Energy had its price target lowered by analysts at Stifel Nicolaus from $38.00 to $36.00. They now have a “buy” rating on the stock.
- Southwestern Energy had its “outperform” rating reaffirmed by analysts at RBC Capital. They now have a $39.00 price target on the stock.
- Southwestern Energy had its “hold” rating reaffirmed by analysts at Canaccord Genuity. They now have a $38.00 price target on the stock, up previously from $37.00. They wrote, “Our target price is anchored on a $5 long-term NYMEX gas price, which is only modestly higher than the gas price currently reflected in E&P equities. In ’13, assuming a ~$2 billion capital plan, we expect Southwestern to generate ~12% production growth (633.3 Bcfe), predominately from the Marcellus. Our ’13 outlook is fractionally below the midpoint of company guidance (628-640 Bcfe). Our basin-by-basin analysis indicates the Fayetteville Shale is economically inferior to other major gas shale plays. The Marcellus improves the company’s economic profile though is subject to infrastructure limitations. In terms of new ventures, two recent promising geo-pressured Brown Dense horizontal tests suggest this emerging oil/gas play is marginally economic.”
- Southwestern Energy was given a new $46.00 price target on by analysts at Goldman Sachs.
- Southwestern Energy was upgraded by analysts at Goldman Sachs from a “buy” rating to a “conviction-buy” rating. They now have a $46.00 price target on the stock.
Southwestern Energy opened at 33.42 on Wednesday. Southwestern Energy has a 52-week low of $25.63 and a 52-week high of $36.87. The stock’s 50-day moving average is currently $33.54. The company’s market cap is $11.694 billion.
Southwestern Energy Company is an independent energy company engaged in natural gas and oil exploration, development and production.