UPDATE: Cowen Securities Raises PT on SM Energy Co. on Underlying Asset Value - SM Energy (NYSE:SM)

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In a report published Friday, Cowen Securities analyst Nicholas P. Pope reiterated his Buy rating on SM Energy Co. (NYSE: SM), and raised the price target from $60.00 to $70.00.In the report, Pope noted, “SM is our favorite E&P opportunity, and weakness in NGL and condensate prices, which has weighed on shares, should be viewed as a buying opportunity. The underlying asset value remains quite compelling, and the company has options to unlock tremendous value.”SM Energy Co. closed on Thursday at $59.04.

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