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Fly News Breaks for February 14, 2018
SWN
Feb 14, 2018 | 08:15 EDT
Morgan Stanley analyst Drew Venker believes reducing overhead is likely Southwestern Energy's best avenue to unlock shareholder value and thinks selling the Fayetteville assets is unlikely to transform its outlook. Venker assumes Southwestern retains Fayetteville in his base case estimates, though he lowered his estimates and net asset value to reflect a reduced value for the NE Marcellus. Given his lowered estimates and NAV view, the analyst cut his price target on Southwestern Energy shares to $2 and he keeps an Underweight rating on the stock.