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Fly News Breaks for October 11, 2019
Oct 11, 2019 | 08:49 EDT
Capital One analyst Brian Velie upgraded Southwestern Energy to Equalweight from Underweight with a $4.00 price target, up from $3.50, after the company's reaffirmation and 1-yr maturity extension for its $2B undrawn credit facility borrowing base along with a doubling of its 2020 natural gas hedge position. The downside protection to natural gas pricing for 2020, coupled with an "uneventful redetermination," improve his outlook, Velie said.
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