Stifel Nicolaus is out with its report today on Southwestern Energy SWN, raising its PT from $50 to $55.
In its report, Stifel Nicolaus writes, "We are increasing our 12 month target price on SWN from $50 to $55, with potential upside to $60/sh if the new play concept proves commercial with the first few wells. Yesterday after the close, SWN reported better than expected 2Q11 results, good drilling results in the Marcellus, and average drilling results in the Fayetteville (but in-line with expectations)."
At the time of posting, shares of SWN were trading at $45.78, down 3.56% from Thursday's close.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsEnergyOil & Gas Exploration & ProductionStifel Nicolaus
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