Market Overview

UPDATE: Topeka Capital Markets Upgrades SM Energy Company Following Great 3Q13 Results


In a report published Wednesday, Topeka Capital Markets analyst Gabriele Sorbara upgraded the rating on SM Energy Company (NYSE: SM) from Hold to Buy, and raised the price target from $80.00 to $120.00.

In the report, Topeka Capital Markets noted, “We are upgrading SM to Buy from Hold and raising our price target to $120 from $80, following excellent 3Q13 results and with the unveiling of ~53,500 net core Permian acres in southwestern Dawson and southeastern Gaines counties (leased or committed). This newly disclosed position, along with its ~19,000 net legacy acres in Upton County present more than $52 of NAV upside, based on our calculation, when ascribing 35% credit across seven potential horizontal targets. While SM has done a great job in the Eagle Ford and Bakken, we believe this Permian position opens the next chapter to the story, with a significant potential inventory of high IRR projects.”

SM Energy Company closed on Tuesday at $87.47.

Latest Ratings for SM

Jan 2021KeyBancMaintainsOverweight
Jan 2021BarclaysDowngradesEqual-WeightUnderweight
Jan 2021KeyBancMaintainsOverweight

View More Analyst Ratings for SM
View the Latest Analyst Ratings


Related Articles (SM)

View Comments and Join the Discussion!

Posted-In: Gabriele Sorbara Topeka Capital MarketsAnalyst Color Upgrades Analyst Ratings

Latest Ratings

JNJCantor FitzgeraldMaintains200.0
PCTYJMP SecuritiesMaintains220.0
KMBRBC CapitalMaintains147.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at