Expand Energy price target raised to $97 from $90 at Citi

Citi raised the firm’s price target on Expand Energy (EXE) to $97 from $90 and keeps a Buy rating on the shares. The firm updated tis model with revised estimates into earnings and post the merger close. It sees production on the high-end of guidance given fewer than expected curtailments and strong drilling results with operating expenses largely in line. The analyst cites expectations for synergies and opportunities for incremental operational efficiencies from the Chesapeake Energy (CHK) and Southwestern Energy (SWN) combination for the Buy rating.