KeyBanc has raised its rating for Expand Energy (EXE, Financial) to "Overweight" from "Sector Weight," establishing a new price target of $130. This upgrade comes as the firm assesses the current oil market, which it views as overly pressured due to concerns about OPEC+ growth, U.S. oil expansion, and potential global economic downturns.
The analyst attributes the upgrade to Expand Energy's position as a defensive, investment-grade entity within the S&P 500, known for its stability in the natural gas sector. The company's promising outlook is further bolstered by expectations of enhanced productivity at the Haynesville Shale, especially with Expand's increased presence in the Southwestern region.
KeyBanc's analysis suggests that, despite the broader uncertainties in the oil market, Expand Energy's strategic positioning and operational improvements could provide resilience and growth potential for investors.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Expand Energy Corp (EXE, Financial) is $94.91 with a high estimate of $120.00 and a low estimate of $77.00. The average target implies an downside of 10.85% from the current price of $106.47. More detailed estimate data can be found on the Expand Energy Corp (EXE) Forecast page.
Based on the consensus recommendation from 20 brokerage firms, Expand Energy Corp's (EXE, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Expand Energy Corp (EXE, Financial) in one year is $81.48, suggesting a downside of 23.47% from the current price of $106.47. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Expand Energy Corp (EXE) Summary page.
