SM Energy price target raised to $47 from $43 at Wells Fargo

Wells Fargo raised the firm’s price target on SM Energy (SM) to $47 from $43 and keeps an Equal Weight rating on the shares. The firm notes SM delivered solid Q3 results and positive updates on Klondike initial results. However, post Q3 update, uncertainties linger around SM’s go-forward outlook/capital allocation and the pace of Uinta business integration, keeping Wells on the sidelines.