Expand Energy price target raised to $105 from $100 at Wells Fargo

Wells Fargo raised the firm’s price target on Expand Energy (EXE) to $105 from $100 but keeps an Equal Weight rating on the shares ahead of its Q4 results. The firm is updating its model with adjustments that reflect updated production and commodity price assumptions, the analyst tells investors in a research note, adding that while its Q4 EPS estimates move lower by 2c to 36c on weaker gas and higher GP&T – Gathering, Processing and Transportation – this is partially offset by lower cash G&A. Wells Fargo is also raising its FY25 EPS view by 30c to $1.53 due to materialized demand and higher volumes.