Mizuho Reiterates Outperform Rating on Expand Energy (EXE)
Mizuho analyst Nitin Kumar reiterated an Outperform rating and $145.00 price target on Expand Energy (NASDAQ: EXE).
The analyst commented: "We expect EXE to miss 1Q26 EBITDAX/CFPS versus current Street consensus by ~14% each, driven by lower production with volumes at the low end of guidance (7,412 MMcfe/d) due to winter weather and one time operational issues. Pricing is modestly softer ($4.62/Mcfe pre-hedge, ~1% below Street), with a notable $420mm hedge loss based on monthly pricing (vs. quarterly average). On the call, we expect focus on leadership transition with the new CFO Marcel Teunissen and the company's ongoing CEO search, continued debt reduction following recent bond calls, and a macro outlook that remains soft near term but improves longer term with LNG and power demand growth. Maintain Outperform with a $145 PT."
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Shares of Expand Energy closed at $100.19 yesterday.
