Market Overview

UPDATE: Morgan Stanley Reiterates On Southwestern Energy Company Following Marcellus/Utica Properties Acquisition

Share:

In a report published Friday, Morgan Stanley analyst Drew Venker reiterated an Underweight rating on Southwestern Energy Company (NYSE: SWN), but lowered the price target from $26.00 to $24.00.

In the report, Morgan Stanley noted, “SWN announced the acquisition of Marcellus and Utica properties in SW Penn. and WV. Markets took the deal negatively, partially because SWN's plans to fund some of the acquisition with equity. Lowering our price target to $24 from $26 to reflect the acquisition and the deal dilution.Southwestern's acquisition of these properties provides it with higher quality drilling inventory, upside from the dry gas Utica, and additional flexibility in deploying capital.”

Southwestern Energy Company closed on Thursday at $31.97.

Latest Ratings for SWN

DateFirmActionFromTo
Jan 2021Morgan StanleyMaintainsEqual-Weight
Dec 2020UBSDowngradesNeutralSell
Nov 2020Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for SWN
View the Latest Analyst Ratings

 

Related Articles (SWN)

View Comments and Join the Discussion!

Posted-In: Drew Venker Morgan StanleyAnalyst Color Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
TPRKeyBancMaintains38.0
SLGNKeyBancMaintains40.0
NKEKeyBancMaintains180.0
MGAKeyBancMaintains86.0
LEAKeyBancMaintains195.0
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 vipaccounts@benzinga.com