Truist analyst Neal Dingmann lowered the firm’s price target on SilverBow Resources to $55 from $59 but keeps a Buy rating on the shares. The company’s free cash flow is projected to materially increase in the coming quarters as efficient operations continue on a larger more attractive asset base, the analyst tells investors in a research note. SilverBow does not yet have any shareholder returns program, but this could possibly change next year depending on the magnitude of free cash flows, Truist added.
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