TD Cowen analyst David Deckelbaum maintained a Buy rating on Expand Energy yesterday and set a price target of $116.00.
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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 strategic acquisitions. The company exceeded production expectations by 2% and managed to keep its capital expenditures 6% below consensus, demonstrating effective cost management. Additionally, Expand Energy’s acquisition of new acreage in SW Appalachia and Western Haynesville enhances its long-term growth prospects, with significant potential for future development.
Furthermore, the signing of a long-term supply agreement with Lake Charles Methanol at premium pricing underscores the company’s ability to secure lucrative contracts and capitalize on industrial demand growth. These strategic moves, along with an increase in production guidance and a decrease in capital expenditure guidance for FY25, contribute to a positive outlook for Expand Energy, justifying the Buy rating.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EXE in relation to earlier this year.