Market Overview

UPDATE: Goldman Sachs Upgrades Southwestern Energy to Conviction Buy on Marcellus Assets

Share:
Related SWN
Is Chesapeake The 'Shining Gem' In Today's Oil Slick?
Imperial Capital Reiterates Rating, Lowers Price Target On Southwestern Energy On Upsized Equity Offering
Energy Stocks Move Higher as Oil Spikes (Fox Business)

Goldman Sachs upgraded Southwestern Energy (NYSE: SWN) from Buy to Conviction Buy and announced a $46.00 price target.

Goldman Sachs noted, "We add Southwestern Energy to the Conviction List for three reasons: (1) Marcellus Shale assets are underappreciated, but growth and well performance could improve perception in six months; (2) we view SWN's Fayetteville Shale position as the “next play in” as natural gas prices rise; and (3) SWN (like most gassy E&Ps, including Buy-rated COG where we raise our target) is not a consensus favorite. We see 38% upside to our $46 12-month price target, raised from $44."

Southwestern Energy closed at $33.35 on Friday.

Latest Ratings for SWN

DateFirmActionFromTo
Jan 2015BarclaysMaintainsEqual-weight
Jan 2015BarclaysMaintainsEqual-weight
Jan 2015Raymond JamesDowngradesOutperformUnderperform

View More Analyst Ratings for SWN
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Upgrades Analyst Ratings

 

Related Articles (SWN)

Around the Web, We're Loving...

Get Benzinga's Newsletters