Morgan Stanley analyst Devin McDermott raised the firm’s price target on Expand Energy (EXE) to $136 from $127 and keeps an Overweight rating on the shares. The firm, which marks its price deck for Q4 actuals and the latest forward strip, notes that its 2025 EBITDA estimates are moving 11% higher on average for the North American exploration and production group. The firm retains its preference for gas over oil and within oil prefers Majors and E&Ps with positive rate of change, the analyst added in a Q4 preview note.
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Read More on EXE:
- Expand Energy upgraded to Outperform from Sector Perform at Scotiabank
- Expand Energy initiated with a Hold at TD Cowen
- Expand Energy price target raised to $125 from $115 at Citi
- Expand Energy initiated with an Overweight at JPMorgan
- Expand Energy price target raised to $105 from $100 at Wells Fargo