Citi raised the firm’s price target on Expand Energy (EXE) to $125 from $115 and keeps a Buy rating on the shares. The firm updated its model with revised estimates into earnings, resulting in discretionary cash flow of $802.3M versus the consensus for $830.4M. Citi cites strong current fundamentals and nearing line-of-sight to further pricing strength through the year for the target increase.
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