RBC Capital raised the firm’s price target on SM Energy to $54 from $50 and keeps a Sector Perform rating on the shares after its Q1 earnings beat. The company’s strong results position it toward a higher exit rate into 2025, with several organic initiatives to add to its inventory, including wells on the new Permian ‘Klondike’ acreage and a drill-to-earn in the Austin Chalk, the analyst tells investors in a research note.
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