UPDATE: Credit Suisse Upgrades Southwestern Energy Company to Neutral on Gas Market Recovery in US

Credit Suisse increases its rating on Southwestern Energy Company

and increases its price target from $25 to $29. Credit Suisse says, "We are upgrading SWN shares to Neutral from Underperform on signs the U.S. gas market is finally poised for recovery. Our deep dive analysis suggests the unpremeditated decline rate for conventional gas is 11%, or 4.1 bcf/d. Recent sharp declines in conventional activity and more permanent shifts in producer economics that favor liquids plays could bring about a faster reset in the gas market than implied by the gas futures strip." SWN closed at $27.54 on Tuesday.