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Fly News Breaks for February 7, 2019
SWN
Feb 7, 2019 | 19:51 EDT
MUFG analyst Michael McAllister lowered his price target on Southwestern Energy to $5 and kept his Neutral rating after its FY19 production update. He sees its outlook of 750Bcfe-785Bcfe and capex of $1.08B-$1.18B falling short of his expected 786 Bcfe on capex of $1.069B, noting that the company's move to liquids is boosting its costs. McAllister adds tthat the company appears to be "shifting away from their legacy positions and rampingactivity in the SW Appalachia play", which should justify a discount for this natural gas-levered stock.
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