KLR Group Upgrades SM Energy (SM) to Buy
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
KLR Group upgraded SM Energy (NYSE: SM) from Accumulate to Buy with a price target of $43.00 (from $37.00).
Analyst John Gerdes commented, "We are upgrading SM from Accumulate to Buy and increasing our target price $6 to $43 due to the accretive impact of greater Midland Basin focus manifest in the Howard County acquisition partially offset by the substantive component of equity financing. The company’s capital intensity should improve ~5%, while oil-directed capital spending increases ~2%. Further, SM’s mid-cycle (’18) capital yield (cash recycle ratio) is now positive at ~110% (industry median ~125%) and therefore no longer warrants an incrementally lower equity discount rate."
Shares of SM Energy closed at $31.06 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Credit Suisse Upgrades Juniper Networks (JNPR) to Outperform
- Western Digital (WDC): Raising PT After Analyst Day - Baird
- KLR Group Raise Price Target on Oasis Petroleum (OAS) to $22; Reiterates Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
Related EntitiesDefinitive Agreement
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!