Stephens raised the firm’s price target on SM Energy (SM) to $57 from $56 and keeps an Overweight rating on the shares. Q3 free cash flow beat consensus by 20%, Q3 production was 2% above the Street and initial Q4 production and capex guidance were 1% above and 1% below consensus, respectively, notes the analyst, who views the earnings release as “positive.”
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Read More on SM:
- 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
- Is SM a Buy, Before Earnings?
- SM Energy price target lowered to $60 from $65 at KeyBanc
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
