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 .
Most Popular Stories
- Chobani Counters Competition With Expanded Lineup
- Reid: Bundy Backers Are 'Domestic Terrorists'
- Ex-BP Employee Settles Insider Trading Charges
- Venture Investments in U.S. Highest Since 2001
- Colo. Cleantech Program Calls for Entrepreneurs
- Unemployment Rates Down, Job Gains Up in March
- Hiring Fair for Veterans, Job Seekers
- Recordings Reveal a Not-So-Nice Martinez: Editorial
- VW Beetle Marks 65th Year in U.S.
- The Biebs Crashes Drake's Release Party