Analysts Cut Expand Energy (EXE) Price Targets, Stay Positive

Expand Energy Corporation (NASDAQ:EXE) is one of the 12 Best Oil and Gas Stocks to Buy Right Now. On January 28, Piper Sandler reduced its price target on Expand Energy Corporation (NASDAQ:EXE) from $138 to $137 and maintained an Overweight rating.

Piper Sandler said it expects strong Q4 results from gas companies. However, the firm noted that weaker WAHA pricing and soft oil and NGL prices are creating challenges for oil companies. Looking at fiscal year 2926, Piper Sandler expects most oil companies in its coverage to focus on maintenance programs, while a number of gas-producing companies are looking to focus on growth to meet rising LNG demand.

Earlier, on January 20, Barclays also reduced its price target on Expand Energy Corporation (NASDAQ:EXE) from $136 to $126 and kept its Overweight rating. This update comes as the firm adjusted ratings and price targets for the exploration and production sector as part of a Q4 preview. Barclays noted that the upstream sector’s cash return model remains strong despite ongoing macroeconomic uncertainty.

Also on January 20, Stephens cut its price target on Expand Energy Corporation (NASDAQ:EXE) from $143 to $140 and kept an Overweight rating. Stephens noted that the company’s Haynesville assets are well-positioned to benefit from growing LNG export demand and power generation needs over the next four years, which will need extra natural gas supply from regions outside of Appalachia and the Permian.

Expand Energy Corporation (NASDAQ:EXE) is an American energy company and the largest natural gas producer in North America.

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Disclosure: None. This article is originally published at Insider Monkey.