Stephens initiated coverage of SM Energy with an Overweight rating and $63 price target. The firm said that SM has meaningful exposure to a potential rebound in 2025 natural gas prices. In addition, an under-leveraged balance sheet positions the company to ramp returns to investors, the analyst tells investors in a research note.
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Read More on SM:
- SM Energy price target raised to $62 from $57 at Mizuho
- SM Energy price target raised to $54 from $50 at RBC Capital
- SM Energy sees Q2 CapEx $315M-$325M
- SM Energy sees FY24 CapEx $1.14B-$1.18B
- SM ENERGY REPORTS FIRST QUARTER 2024 RESULTS; EXCELLENT OPERATIONAL EXECUTION BOOSTS BOTTOM LINE RESULTS AND SUPPORTS HIGHER PRODUCTION, LOWER CAPITAL GUIDANCE
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