JPMorgan analyst Zach Parham initiated coverage of Expand Energy (EXE) with an Overweight rating and $112 price target Expand is the largest natural gas producer in the U.S. and provides exposure to the trend of growing natural gas demand with a scaled position in two lower 48 core natural gas basins, the analyst tells investors in a research note. The firm says the company’s capital efficiency will improve while it remains bullish on natural gas fundamentals.
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