Wells Fargo raised the firm’s price target on SM Energy (SM) to $47 from $43 and keeps an Equal Weight rating on the shares. The firm notes SM delivered solid Q3 results and positive updates on Klondike initial results. However, post Q3 update, uncertainties linger around SM’s go-forward outlook/capital allocation and the pace of Uinta business integration, keeping Wells on the sidelines.
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Read More on SM:
- SM Energy price target lowered to $46 from $48 at Susquehanna
- SM Energy price target raised to $57 from $56 at Stephens
- SM Energy Reports Strong Q3 2024 Results
- SM Energy reports Q3 adjusted EPS $1.62, consensus $1.53
- SM Energy raises 2024 net production view to 62.2-63.5 MMBoe or 170-174 MBoe/d
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
