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Southwestern Energy rises as analyst upgrades

January 22, 2014

NEW YORK (AP) Shares of Southwestern Energy rose to their highest level in more than two years on Wednesday as an analyst lifted his rating on the company, citing the improving natural gas market. Tim Rezvan of Sterne, Agee & Leach raised Southwestern Energy to "Buy" from "Neutral," with a $48 price target. In a client note, the analyst said that the company is being helped by the colder winter, which drives more energy use, and he expects more exports in 2015. A boom in natural gas production in the U.S. has weighed on gas prices. Southwestern Energy Co.'s stock added $1.55 , or 3.8 percent, to $41.88 in midday trading. The shares peaked at $42.06 earlier Wednesday, their highest point since November 2011 .


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Source: Associated Press


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