SM Energy (SM)

[dan_s]

SM Energy crushed analysts earnings estimates for the first quarter and I am expecting them to do the same in Q2. First Call has raised their price target to $75.37 and my Fair Value Estimate (current break-up value) is much higher. I will have an updated forecast model posted under the Sweet 16 tab shortly.

[dan_s]

SM Energy (SM): An updated Net Income & Cash Flow Forecast model has been posted under the Sweet 16 Tab. This one really looks good. Note that my Fair Value Estimate is only 5X CFPS, a very low multiple for a company of this size with double digit production growth locked in.