Canaccord Genuity Maintains a 'Hold' on Southwestern Energy (SWN); PT Lowered on Model Refinements

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Canaccord Genuity maintains a 'Hold' on Southwestern Energy (NYSE: SWN) price target of $37.00 (from $38.00).

Analyst, John Gerdes, said, "We are lowering our price target following minor model refinements. Our target 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. Further, our company-specific analysis indicates the Fayetteville Shale is economically inferior to the other major shale gas plays. The Marcellus improves the company’s economic profile though is subject to regional market limitations. Notably, a recent promising geo-pressured Brown Dense test suggests this emerging play could represent upside to our price target."

For an analyst ratings summary and ratings history on Southwestern Energy click here. For more ratings news on Southwestern Energy click here.

Shares of Southwestern Energy closed at $32.20 yesterday, with a 52 week range of $25.63-$44.36.

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