KLR Group Raises price Target on Southwestern Energy (SWN) to $15; Reiterates Hold
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
KLR Group reiterated a Hold rating on Southwestern Energy (NYSE: SWN), and raised the price target to $15.00 (from $13.00). The company resumed development activity with plans to increase activity to five rigs by the end of the 3Q. SWN's second half drilling activity comprises two rigs respectively in Northeast and Southwest Appalachia and one rig in the Fayetteville.
Analyst John Gerdes commented, "We are increasing our SWN target price $2 to $15 per share due to a slightly lower weighted average cost-of-capital (approaching large-cap classification) and fractionally higher long-term gas price realization with the roll off of Fayetteville firm transport commitments after ’18. Our ’16 production outlook of ~885 Bcfe is ~1% above guidance (865-875 Bcfe)."
Shares of Southwestern Energy closed at $13.91 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results
- AMD (AMD) Q3 'Solid' - Jefferies
- PayPal (PYPL) PT Raised to $47 at Credit Suisse; Results Just 'Ok' But Visability Increases Conviction
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!