Expand Energy price target raised to $85 from $84 at Stephens

Stephens raised the firm’s price target on Expand Energy to $85 from $84 and keeps an Equal Weight rating on the shares. The firm notes that its Q3 production estimate of 2.62 Bcfpd is at the midpoint of guidance and implies a decline of 5% quarter-over-quarter and 25% year-over-year as the company continued to build DUCs and defer TILs during the quarter.