SM Energy (SM) PT Raised to $51 at Mizuho

Mizuho analyst William Janela raised the price target on SM Energy (NYSE: SM) to $51.00 (from $44.00) while maintaining a Buy rating.

The analyst commented, "We are updating our financial forecasts and NAV for SM to reflect YE23 reserves, updated type curves and 2024 guidance updates. SM reaffirmed plans to deliver moderate oil growth (mid-single digit YoY) and remains committed to its capital allocation framework that prioritizes inventory expansion alongside cash returns to shareholders. We maintain our Buy rating and raise our PT to $51 (from $44)."

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