Morgan Stanley analyst Devin McDermott lowered the firm’s price target on Southwestern Energy to $5 from $6 and keeps an Equal Weight rating on the shares after updating commodity assumptions to account for Q1 actuals and Q2 strip. Across the firm’s coverage, WTI oil prices are declining 1% in Q1 to reflect actuals and 23% in Q2 to align with the strip. For natural gas, the firm updated Henry Hub downward 13% for Q1 actuals and down 24% on average for the remainder of the year to align with the strip.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on SWN:
- Southwestern Energy price target lowered to $6 from $7 at BMO Capital
- Southwestern Energy management to meet with Truist
- Southwestern Energy price target lowered to $9 from $10 at Piper Sandler
- Southwestern Energy reports Q4 adjusted EPS 26c, consensus 27c
- Southwestern Energy options imply 4.2% move in share price post-earnings