SM Energy Update - Jan 11

SM Energy Update - Jan 11

Postby dan_s » Mon Jan 11, 2021 12:54 pm

RBC Capital has increased their price target for SM by $2.50 to $12.00.

SM Energy Company
Upgrading to Outperform
Our view: We upgrade SM Outperform due to (1) the rapid pace of
de-leveraging, (2) top tier Permian economics, (3) upside in the Austin
Chalk. We believe SM shares provide investors beta to higher oil prices
that are supported by solid fundamentals and an improving financial
position. Over the last couple of years, we think the market was positively
surprised with performance at RockStar (Permian) but we see the asset
still undervalued and the Austin Chalk as a new value catalyst in 2021.
Dan Steffens
Energy Prospectus Group
dan_s
 
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