Goldman Sachs Upgrades Southwestern Energy (SWN) to Conviction Buy, Sees 38% Upside

February 25, 2013 6:58 AM EST
Get Alerts SWN Hot Sheet
Price: $9.19 -2.34%

Rating Summary:
    13 Buy, 27 Hold, 6 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Goldman Sachs added Southwestern Energy (NYSE: SWN) to its Conviction Buy List with a price target of $46, suggesting 38% upside, citing Marcellus defense and Fayetteville offense.

The firm added to stock to the coveted list to: (1) to gain exposure to rising gas prices we expect over the course of 2013, and (2) as we believe shares will receive better recognition for attractive Marcellus Shale assets.

"We believe SWN has attractive gas assets that can deliver strong returns, double-digit production growth and a much better balance of capex and cash flow at our $3.75+/MMBtu gas forecast for 2013+ than the company has shown in recent years," the analyst said.

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 $33.35 yesterday.

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