Southwestern Energy downgraded to Underweight from Equal Weight at Wells Fargo

Wells Fargo analyst Roger Read downgraded Southwestern Energy to Underweight from Equal Weight with a price target of $5, down from $6. The firm sees continued headwinds due to the lack of capital returns and weak free cash flow generation in a weak gas price environment, though it thinks Southwestern is well-positioned in global LNG trade in 2025+, the analyst tells investors in a research note.