Jefferies Maintains a 'Hold' on Southwestern Energy (SWN); Q4 Review: Still A Transition Story

March 7, 2012 7:21 AM EST
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Price: $9.41 -1.05%

Rating Summary:
    13 Buy, 26 Hold, 7 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies maintains a 'Hold' on Southwestern Energy (NYSE: SWN) price target lowered $1 to $31.

Analyst, Biju Z. Perincheril, said, "Despite the disappointing update on the first Brown Dense well, a gas-to-oil transition is still very much possible. Solid balance sheet gives SWN time to make the transition, while Marcellus growth should help to offset reserves headwinds. Our main concerns are that market expectations have been set too high for the Brown Dense and that the continuation of stagnant gas fundamentals could put some Fayetteville reserves at risk."

Jefferies lowers FY12 EPS estimate from $1.62 to $1.58, but raises FY13 from $1.63 to $1.64.

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 $32.41 yesterday.

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