SM Energy price target lowered to $38 from $45 at Raymond James

Raymond James analyst John Freeman lowered the firm’s price target on SM Energy to $38 from $45 and keeps an Outperform rating on the shares. SM posted a solid Q4, reversing prior operational issues surrounding wellbore interference, and the price target decrease is the result of mark-to-market Q1 commodity prices, the analyst tells investors in a research note.