Expand Energy, the Energy sector company, was revisited by a Wall Street analyst yesterday. Analyst Phillip Jungwirth from BMO Capital maintained a Buy rating on the stock and has a $133.00 price target.
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Phillip Jungwirth has given his Buy rating due to a combination of factors that point to strong execution and durable cash generation at Expand Energy. He expects fourth-quarter results to reflect robust operational performance, with production near the upper end of guidance and realized gas prices benefiting from optimized marketing and seasonal tailwinds. His earnings and free cash flow forecasts are above market consensus, and he anticipates more than $500 million of pre-dividend free cash flow in the quarter alongside over $2.1 billion of free cash flow in 2026 at current strip pricing. This strong cash profile supports further debt reduction, the maintenance of the base dividend, and potential incremental shareholder returns.
Jungwirth also highlights that 2026 production growth should be achievable with a roughly flat capital budget, underscoring capital efficiency and operational discipline. He views Expand’s dry gas positions in the Haynesville and Marcellus as top-tier U.S. onshore assets, strengthened by the Southwestern acquisition, which created a scaled, “must-own” dry gas platform with complementary acreage. The combination of high-quality assets, a programmatic hedging strategy, and flexible production planning around demand supports a resilient outlook despite softer gas prices. Together, these factors underpin his conviction that Expand shares offer an attractive risk-reward profile, justifying his Buy recommendation.
In another report released today, Mizuho Securities also maintained a Buy rating on the stock with a $142.00 price target.