Southwestern Energy initiated with a Neutral at UBS

UBS analyst Josh Silverstein initiated coverage of Southwestern Energy with a Neutral rating and $5 price target. While UBS likes the strategic long-term value that holding both Marcellus and Haynesville acreage offers, it sees limited near-term upside, the analyst tells investors in a research note. A positive re-rating is unlikely until Southwestern further improves its balance sheet and demonstrates a sustainable return of capital, UBS says.