SM Energy price target raised to $57 from $56 at Stephens

Stephens raised the firm’s price target on SM Energy (SM) to $57 from $56 and keeps an Overweight rating on the shares. Q3 free cash flow beat consensus by 20%, Q3 production was 2% above the Street and initial Q4 production and capex guidance were 1% above and 1% below consensus, respectively, notes the analyst, who views the earnings release as “positive.”