Expand Energy initiated with a Buy at Truist

Truist initiated coverage of Expand Energy (EXE) with a Buy rating and $136 price target Expand is now the largest natural gas exploration and production in the U.S. with core assets in the Appalachia Basin and Haynesville Shale, the analyst tells investors in a research note. The firm estimates the company retains 13 years of inventory in the Haynesville. Truist expects Expand’s efficiency gains to drive synergy capture above expectations.