Northern Midland Basin Expansion Set To Boost SM Energy: Analyst Lifts EPS Estimates
Portfolio Pulse from Nabaparna Bhattacharya
Susquehanna analyst Biju Perincheril reiterated a Neutral rating on SM Energy Company (NYSE:SM) and raised the price target to $32 from $30. The company is expected to benefit from Austin Chalk exploration results, increased capital return, and improved operating costs. SM Energy recently added 20,000 acres in the Northern Midland Basin, targeting the Dean and Middle Spraberry sand intervals.
June 22, 2023 | 6:04 pm
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SM Energy's price target raised to $32 by Susquehanna analyst, citing Austin Chalk exploration results, increased capital return, and improved operating costs. The company recently added 20,000 acres in the Northern Midland Basin.
The news of the raised price target and the Neutral rating by Susquehanna analyst Biju Perincheril is positive for SM Energy. However, the stock is currently trading lower by 3.90% to $28.60. The company's expansion in the Northern Midland Basin and the expected benefits from Austin Chalk exploration results, increased capital return, and improved operating costs are positive factors, but the short-term impact on the stock price is neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100