Investment firm Raymond James has adjusted its price target for Expand Energy (EXE, Financial), reducing it from $160 to $136, while maintaining a "Strong Buy" rating on the stock. This move reflects significant changes in the energy sector's landscape since the last quarterly reports from Exploration & Production companies in late February.
This adjustment comes as the oil market faces volatility, with current prices approximately $10 per barrel lower than earlier this year. The fluctuations stem from a combination of trade tensions and recent decisions by OPEC+, which have created a challenging environment for energy companies. Despite these headwinds, Raymond James anticipates that its covered companies will generally perform as expected in the first quarter.
The evolving dynamics in the oil market have prompted many management teams within the sector to adopt a cautious stance, opting to wait and see how the situation unfolds. Nevertheless, the investment firm believes that the companies within its E&P coverage are positioned to deliver results in line with projections, despite the current commodity price downturn.
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.
