David Deckelbaum, an analyst from TD Cowen, maintained the Hold rating on Expand Energy (EXE – Research Report). The associated price target remains the same with $108.00.
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David Deckelbaum’s rating is based on a combination of factors that reflect both positive performance and potential challenges for Expand Energy. The company demonstrated strong results in its recent quarter, with production levels meeting expectations and EBITDAX surpassing estimates. Additionally, capital expenditures were lower than anticipated, which is a positive indicator of cost management. However, the company’s future capital expenditure plans are higher than consensus, which could impact its financial flexibility.
Furthermore, while Expand Energy has made significant progress in achieving synergy targets and reducing costs, the increased activity and capital spending planned for the second half of FY25 may pose risks if market conditions do not remain favorable. The company’s hedging strategy provides some protection against price volatility, but the level of hedging decreases in FY26. These factors contribute to a balanced outlook, leading to the Hold rating as the company navigates both opportunities and uncertainties in the market.
In another report released on February 21, Siebert Williams Shank & Co also maintained a Hold rating on the stock with a $115.00 price target.