Canaccord Genuity Reiterates a 'Buy' on Swift Energy (SFY); Strong Operational Results to Address Valuation Disconnect
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Price: $151.82 +0.45%
Rating Summary:
7 Buy, 7 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 7 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Swift Energy (NYSE: SFY), raises price target to $55.00.
Canccord analyst, Marcus Talbert, said, "We are reiterating our rating and raising our target price based on Swift’s progress in South Texas and associated type curve revisions. Swift’s operational focus and extensive experience is translating into better returns in each of its resource plays. We believe SFY trades at an unwarranted discount to its peer group despite its growth prospects and strong liquidity position. In our view, improving well performance in the Eagle Ford/Olmos trends coupled with resource accretion in the Austin Chalk will narrow this valuation disconnect."
For more ratings news on Swift Energy click here and for the rating history of Swift Energy click here.
Shares of Swift Energy closed at $28.58 yesterday.
Canccord analyst, Marcus Talbert, said, "We are reiterating our rating and raising our target price based on Swift’s progress in South Texas and associated type curve revisions. Swift’s operational focus and extensive experience is translating into better returns in each of its resource plays. We believe SFY trades at an unwarranted discount to its peer group despite its growth prospects and strong liquidity position. In our view, improving well performance in the Eagle Ford/Olmos trends coupled with resource accretion in the Austin Chalk will narrow this valuation disconnect."
For more ratings news on Swift Energy click here and for the rating history of Swift Energy click here.
Shares of Swift Energy closed at $28.58 yesterday.
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