UBS Maintains a 'Buy' on Southwestern Energy (SWN); Q3 Production Beat and Guidance Raise

UBS maintains a 'Buy' on Southwestern Energy (NYSE: SWN) price target of $49.00.

UBS analyst says, "3Q EPS in line but production handily exceeds guidance...WEN raised its 2011 production guidance to 496-500 Bcfe from 483-491 Bcfe due to stronger than expected Marcellus production and improved Fayetteville Shale results. As we had anticipated a 2011 volume guidance raise, we maintained our 500 Bcfe estimate (+24% YoY) conservatively assuming QoQ growth of 3.7% in 4Q, below avg QoQ growth of +5.4% in the past 7 quarters. We tweaked our 2011-12E EPS/CFPS to $1.90/$5.00 & $2.40/$6.10 from $1.95/$5.05 & $2.35/$6.15."

For more ratings news on Southwestern Energy click here and for the rating history of Southwestern Energy click here.

Shares of Southwestern Energy closed at $43.52 yesterday.

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