KLR Group Cuts Price Target on Southwestern Energy (SWN) to $14
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KLR Group maintained an Accumulate rating on Southwestern Energy (NYSE: SWN), and cut the price target to $14.00 (from $15.00), after adjusting estimates.
Analyst John Gerdes commented, "We are decreasing our SWN target price $1 to $14 per share following minor model refinements. Our 4Q/16 production outlook of ~204 Bcfe is ~1% above company guidance (192-202 Bcfe). Southwestern’s production should trough 4Q/16, exit the year in the lower half of guidance (2.2-2.3 Bcfepd), and incline throughout ’17."
Shares of Southwestern Energy closed at $11.59 yesterday.
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