Canaccord Genuity Reiterates a 'Buy' on SM Energy (SM); Still A Favorite Name
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Price: $62.73 -1.89%
Rating Summary:
16 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
16 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade SM Now!
Canaccord Genuity reiterates a 'Buy' on SM Energy (NYSE: SM) price target of $106.00.
Analyst, John Gerdes, said, " This is decidedly contrarian view, as we’re hard pressed to find a more out-of-favor E&P. Unfortunately, much of the equity underperformance and investor condemnation this year has been merited. SM has lowered guidance on two occasions, gas/NGL prices tanked and the company’s highest productivity asset (Galvan Ranch) is ~60% natural gas."
"SM’s capital cost/recovery relationship suggests the company’s capital productivity is ~10% superior rather than inferior to the industry (liquids-normalized). Yet, SM trades at a ~30% discount (’13E EBITDA) to the sector though should generate almost 20% greater CFPS growth (’12-’14E CAGR)."
For an analyst ratings summary and ratings history on SM Energy click here. For more ratings news on SM Energy click here.
Shares of SM Energy closed at $45.93 yesterday, with a 52 week range of $39.44-$88.50.
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Analyst, John Gerdes, said, " This is decidedly contrarian view, as we’re hard pressed to find a more out-of-favor E&P. Unfortunately, much of the equity underperformance and investor condemnation this year has been merited. SM has lowered guidance on two occasions, gas/NGL prices tanked and the company’s highest productivity asset (Galvan Ranch) is ~60% natural gas."
"SM’s capital cost/recovery relationship suggests the company’s capital productivity is ~10% superior rather than inferior to the industry (liquids-normalized). Yet, SM trades at a ~30% discount (’13E EBITDA) to the sector though should generate almost 20% greater CFPS growth (’12-’14E CAGR)."
For an analyst ratings summary and ratings history on SM Energy click here. For more ratings news on SM Energy click here.
Shares of SM Energy closed at $45.93 yesterday, with a 52 week range of $39.44-$88.50.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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