From a Wells Fargo analyst on June 20.
SM Energy Eagle Ford Play Double Target $ 110
SM Energy SM : NYSE : US$46.65 Buy , Target US$110.00 June 20,2012 Catalysts – Investment thesis NGL prices, which have weighed heavily on the stock, may be stabilizing. Further, the actual cost/recovery relationship suggests capital productivity is superior rather than inferior to industry. Accordingly, we expect production growth to accelerate in the second half.
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