Truist analyst Neal Dingmann raised the firm’s price target on SilverBow Resources (SBOW) to $59 from $51 and keeps a Buy rating on the shares. The company’s increase in its Eagle Ford position with the acquisition of Chesapeake’s (CHK) Rich Gas assets for $700M boosts its scale to a level that will help benefit future D&C efficiencies, the analyst tells investors in a research note. The firm sees a higher estimated future free cash flow given existing and potential upside production for a number of wells that can be completed relatively soon.
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Read More on SBOW:
- SilverBow Resources price target raised to $55 from $45 at Northland
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