Jefferies Maintains a 'Buy' on SM Energy (SM); Raising Production Forecast
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Price: $62.17 --0%
Rating Summary:
15 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 10 | New: 18
Rating Summary:
15 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 10 | New: 18
Trade SM Now!
Jefferies maintains a 'Buy' on SM Energy (NYSE: SM) price target of $93.00 (from $96.00).
Analyst, Subash Chandra, said, "Positive ops update from earlier this week gives us confidence to raise production estimates. We now expect 3Q12 production to be near the top end of guidance range. Shares now trading above p1 of $43, but a Q3 report confirming the 8% sequential growth that we see could help to sustain momentum."
FY12 EPS estimate raised from $0.95 to $0.97, FY13 from $2.11 to $2.15.
For an analyst ratings summary and ratings history on SM Energy click here. For more ratings news on SM Energy click here.
Shares of SM Energy closed at $52.33 yesterday, with a 52 week range of $39.44-$88.50.
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Analyst, Subash Chandra, said, "Positive ops update from earlier this week gives us confidence to raise production estimates. We now expect 3Q12 production to be near the top end of guidance range. Shares now trading above p1 of $43, but a Q3 report confirming the 8% sequential growth that we see could help to sustain momentum."
FY12 EPS estimate raised from $0.95 to $0.97, FY13 from $2.11 to $2.15.
For an analyst ratings summary and ratings history on SM Energy click here. For more ratings news on SM Energy click here.
Shares of SM Energy closed at $52.33 yesterday, with a 52 week range of $39.44-$88.50.
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