UBS raised the firm’s price target on Southwestern Energy (SWN) to $6.25 from $6 and keeps a Neutral rating on the shares to reflect accretion from the Chesapeake (CHK) deal. The transaction is a 13% premium to the unaffected October 2023 price before news reports of a transaction, immediately improves the balance sheet and return of capital profile, and they retain upside with 40% of the pro-forma ownership, the analyst tells investors in a research note.
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Read More on SWN:
- Southwestern Energy price target raised to $8.24 from $8 at Citi
- Chesapeake upgraded to Buy from Neutral at Citi
- Chesapeake upgraded to Buy from Neutral at Mizuho
- Unusually active option classes on open January 11th
- M & A News: Chesapeake Energy (NASDAQ:CHK) Will Acquire Southwestern Energy for $7.4B