Southwestern Energy (SWN) Stock Price Target Raised at Barclays
NEW YORK (TheStreet) -- Barclays increased its price target to $14 from $8 on Southwestern Energy (SWN) - Get Report stock Monday morning.
The firm maintained its "underweight" rating on the stock, but upped its price target in response to higher mid-cycle cash flow estimates that stem from higher production forecasts.
"Southwestern has taken steps to strengthen its balance sheet and liquidity," Barclays continued in an analyst note.
Barclays said Southwestern Energy is expected to have increased production in the near-term. Last week, the company "reinitiated drilling with its first rig" in Northeast Appalachia and is growing its company-wide rig count to five by the end of the third quarter, Southwestern Energy said in a statement.
The company reported mixed results for the second quarter last week, posting an adjusted loss of 9 cents per share, compared to analysts estimated loss of 10 cents per share. The company reported revenue of $522 million, versus analysts projections of $534.4 million.
Shares of Southwestern are falling 0.14% to $14.45 in afternoon trading today.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate SOUTHWESTERN ENERGY CO as a Sell with a ratings score of D. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity, poor profit margins, weak operating cash flow and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: SWN
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