Southwestern Energy downgraded to Hold at Benchmark on buyback potential

As previously reported, Benchmark analyst Subash Chandra downgraded Southwestern Energy to Hold from Buy and removed the firm’s prior $14 price target on the shares. The firm is adjusting Q4 and 2023 estimates on revised natural gas prices and adjusting ratings based on share buyback potential in 2023, calling out debt reduction as the company’s top priority.