TD Cowen analyst David Deckelbaum has maintained their bullish stance on EXE stock, giving a Buy rating yesterday.
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David Deckelbaum has given his Buy rating due to a combination of factors that highlight Expand Energy’s strong operational performance and financial management. The company reported a robust quarter with production levels meeting expectations and EBITDAX surpassing consensus estimates by 8%, while capital expenditures were 6% below consensus, indicating operational efficiency. Expand Energy’s strategic focus on drilling and completing wells has positioned it well for growth, with plans to increase production significantly by the end of 2025.
Additionally, the company’s financial discipline is evident in its substantial debt reduction efforts, having paid down $440 million in the quarter, nearing its $500 million debt retirement goal. This positions the company to return capital to shareholders imminently. Furthermore, Expand Energy is on track to realize significant cost synergies, with $400 million expected in fiscal year 2025 and $500 million annually starting in fiscal year 2026, reinforcing its commitment to enhancing shareholder value.
In another report released yesterday, Bank of America Securities also maintained a Buy rating on the stock with a $126.00 price target.