SM Energy Co. (SM) - Bull of the Day
January 09 2012 - 7:00PM
Zacks
We believe that
SM Energy Company's (SM) emerging core
portfolio is a catalyst for visible organic growth over the next
several years. The company's earnings in the third quarter more
than doubled from the prior-year, buoyed by higher operating
income, increased production and recognition of a gain on
divestiture activity.
The company's Eagle Ford and Bakken assets are key drivers of
liquids growth. SM Energy has significant leasehold positions in
the leading U.S. shale plays, including the Niobrara, Haynesville
and Granite Wash, which we believe will provide the company with
multiyear profitable drilling inventory.
Considering these factors, we are maintaining our recommendation
at Outperform. Our $94 price objective reflects a multiple of 13.3x
the trailing the 12-month cash flow.
SM ENERGY CO (SM): Free Stock Analysis Report
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