BMO Capital analyst Phillip Jungwirth lowered the firm’s price target on Southwestern Energy to $6 from $7 and keeps a Market Perform rating on the shares. The firm is updating its 2023-25 estimates and net asset value for the stock after the company published a new investor presentation last week with detail around its 2023 outlook while also providing disclosure around its Appalachia and Haynesville position, the analyst tells investors in a research note. While Southwestern Energy is well positioned in the long term, its near-term capital returns will be less competitive given limited free cash flows and higher financial leverage, BMO Capital added.
Published first on TheFly
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