UPDATE: BMO Capital Upgrades Southwestern Energy to Outperform

BMO Capital Upgrades Southwestern Energy

from Market Perform to Outperform and raises its price target to $50. In Thursdays note analyst Dan McSpirit highlights some reasons for his upgrade, he notes, (1) "Strong and stronger fundamentals – We show the company achieving a cash flow neutral state in 2014 (2) Favorable risk/reward – Cheaper-than-most gas-weighted equities on relative valuation". According to McSpirit, "we also see the shares attractively valued on an absolute valuation basis, considering the potential of higher yields on lower costs across the company's asset portfolio". In Thursday's trading SWN shares are up almost three percent to $43.40