Canaccord Genuity Reiterates a 'Buy' on Swift Energy (SFY); Challenging Growth For Liquids, But Sell-off Overdone

May 4, 2012 10:06 AM EDT
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Price: $0.16 --0%

Rating Summary:
    8 Buy, 9 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Canaccord Genuity reiterates a 'Buy' on Swift Energy (NYSE: SFY) price target lowered to $40.

Analyst, Marcus Talbert, said, "We are reiterating our rating, although lowering our price target based on Swift’s latest financial results and project updates. We believe the market has overly discounted the company’s execution capabilities including asset misperceptions relating to the South Texas position. In our view, Swift remains well positioned for a cost efficient liquids ramp in ’12; however, we admit the liquids growth targets appear ambitious following revised guidance. Despite the near-term headwinds, we continue to believe SFY will outperform as capital productivity measures improve and resource catalysts emerge in the Austin Chalk."

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

Shares of Swift Energy closed at $26.35 yesterday.

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