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Fly News Breaks for June 7, 2019
SWN
Jun 7, 2019 | 07:30 EDT
Oppenheimer analyst Tim Rezvan initiated Southwestern Energy with a Perform rating, telling investors in a research note that the outlook for shares has "brightened," following "bold" decision-making by CEO William Way since 2016. Rezvan contends, however, that the company's efforts are being made more difficult by a "stubbornly" weak natural gas price, adding that the company's earnings/CF outlook remains tethered to natural gas prices. The analyst expects "pain" for gas prices in the near-term to persist until demand growth in 2021 supports a higher equilibrium price, and feels Southwestern shares are well-positioned for this potential inflection point.
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