Wells Fargo raises PT on SM Energy

SM Energy

20/11/2024 12:11

** Wells Fargo raises price target on U.S.-based oil and gas
firm SM Energy  SM.N  to $47 from $43 after co beat
third-quarter profit estimates on Oct. 31
    ** New price target represents a 7% upside to the stock's
last close
    ** Raises PT as "SM delivered solid Q3 results and positive
updates on Klondike well initial results"
    ** "However, post Q3 update, uncertainties linger around
SM's go-forward outlook/capital allocation and the pace of Uinta
business integration, keeping us on the sidelines" - brokerage
adds
    ** 10 of 15 brokerages rate the stock "buy" or higher, 5
"hold"; their median PT is $51 - data compiled by LSEG
    ** As of last close, stock is up 13.35% YTD

 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com;))