Citi analyst Paul Diamond raised the firm’s price target on Expand Energy (EXE) to $115 from $100 and keeps a Buy rating on the shares. The firm says midstream performance in 2024 suggests that energy is investable again. However, for exploration and production companies, the challenge is that crude markets still appear well-supplied, the analyst tells investors in a research note. Thus, Citi feel it “appears premature” to be bullish crude leverage, but notes the business climate and buybacks “should act as shock absorbers if crude deflates.”
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Read More on EXE:
- Bank of America Lights the Fuse on These 2 Energy Stocks
- Expand Energy price target raised to $100 from $83 at Wells Fargo
- Expand Energy Announces Senior Notes Offering
- Expand Energy price target raised to $116 from $102 at RBC Capital
- Expand Energy Updates Tender Offer Expiration Date
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
