UPDATE: Canaccord Genuity Initiates Coverage on Southwestern Energy Company with Buy Rating, $50 PT on Marcellus Production Growth

In a report published Tuesday, Canaccord Genuity analyst Robert Christensen initiated coverage on Southwestern Energy Company SWN with a Buy rating and $50.00 price target. In the report, Canaccord Genuity noted, “We believe SWN is capable of impressive rates of production growth in the Marcellus shale while further reducing its extremely low-cost structure in its core Fayetteville shale acreage. We are also bullish on SWN because of our broad belief that US natural gas supply and demand are coming ever more into balance. This should lead to an improvement in US natural gas prices over the 2014-2016 time horizon.” Southwestern Energy Company closed on Monday at $36.64.