Canaccord Genuity Still Cautious on Southwestern Energy (SWN); Raising PT on Additional Marcellus Volumes
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Price: $7.11 --0%
Rating Summary:
16 Buy, 33 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
16 Buy, 33 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Canaccord Genuity maintains a 'Hold' on Southwestern Energy (NYSE: SWN) price target raised $1 to $37.
Analyst, John Gerdes, said, "We are increasing our target price with the addition of Marcellus volumes associated with the early ’15 commencement of the Constitution pipeline. We reiterate our rating on SWN shares given a cautious view of Fayetteville economics relative to other gas plays and disappointing initial Brown Dense tests. The Marcellus improves the company’s economic profile though is subject to acute regional market limitations. Additionally, it is too early to determine the oil resource potential in eastern DJ Basin."
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 $28.83 yesterday.
Analyst, John Gerdes, said, "We are increasing our target price with the addition of Marcellus volumes associated with the early ’15 commencement of the Constitution pipeline. We reiterate our rating on SWN shares given a cautious view of Fayetteville economics relative to other gas plays and disappointing initial Brown Dense tests. The Marcellus improves the company’s economic profile though is subject to acute regional market limitations. Additionally, it is too early to determine the oil resource potential in eastern DJ Basin."
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 $28.83 yesterday.
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