Citi raised the firm’s price target on Southwestern Energy (SWN) to $8.24 from $8 and keeps a Buy rating on the shares. The company is merging with Chesapeake (CHK) to create the largest pure-play domestic natural gas producer, the analyst tells investors in a research note. The firm favors the deal citing the value increasingly ascribed to both scale and operational efficiency across the producers and the “strong competitive positioning” the pro-forma company will have among peers, especially combined with Citi’s longer-term constructive view of the underlying commodity.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SWN:
- M & A News: Chesapeake Energy (NASDAQ:CHK) Will Acquire Southwestern Energy for $7.4B
- Chesapeake, Southwestern Energy merge in $7.4B an all-stock transaction
- CHESAPEAKE ENERGY CORPORATION AND SOUTHWESTERN ENERGY TO COMBINE TO ACCELERATE AMERICA’S ENERGY REACH
- Unusually active option classes on open January 8th
- Southwestern Energy price target lowered to $9 from $10 at Truist