Jefferies Cuts Price Targets on Swift Energy (SFY), Notes Eagle Ford Provides Large Upside
Tweet
Share
E-mailGet Alerts SFY Hot Sheet
Price: $151.78 +0.42%
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
Join SI Premium – FREE
Jefferies is reaffirming its Buy rating on shares of Swift Energy (NYSE: SFY) while lowering its price target from $43 to $40.
The firm notes that the company's Eagle Ford inventory offers a lot of reserve upside and calculates it to total roughly 3 tcfe. Currently, Jefferies estimates total reserve growth of 14 percent and 25 percent in 2011 and 2012.
An analyst at Jefferies comments, "The company is still in the delineation stages of developing its Olmos inventory, but the high condensate yields seen thus far are very promising. There is some concern over the 2012 funding gap, but the company's balance sheet should be healthy enough to take on the additional debt required."
The firm is raising its FY11 and FY12 EPS estimates from $1.67 and $1.26 to $1.95 and $1.43.
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 $29.89 yesterday.
The firm notes that the company's Eagle Ford inventory offers a lot of reserve upside and calculates it to total roughly 3 tcfe. Currently, Jefferies estimates total reserve growth of 14 percent and 25 percent in 2011 and 2012.
An analyst at Jefferies comments, "The company is still in the delineation stages of developing its Olmos inventory, but the high condensate yields seen thus far are very promising. There is some concern over the 2012 funding gap, but the company's balance sheet should be healthy enough to take on the additional debt required."
The firm is raising its FY11 and FY12 EPS estimates from $1.67 and $1.26 to $1.95 and $1.43.
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 $29.89 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cummins (CMI) PT Lowered to $675 at Jefferies
- Deere (DE) PT Raised to $585 at JPMorgan
- Ferrovial SA (FER:SM) (FRRVF) Reiterated at Buy by UBS on Winning Bid For Tennessee Project
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Jefferies & CoSign 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!
