Expand Energy initiated with a Strong Buy at Raymond James

Raymond James initiated coverage of Expand Energy (EXE) with a Strong Buy rating and $135 price target Expand Energy is the largest U.S. natural gas producer in the wake of the Chesapeake and Southwestern merger with assets across multiple U.S. gas basins, focused primarily on the Haynesville in Louisiana and the Marcellus in Appalachia, the analyst noted. The company is “poised for capital efficient growth,” even at their scale, as an extensive portfolio “lands them with multiple decades of viable inventory and peer-leading growth” in free cash flow, adds the analyst, who argues that the company is “in prime position to take advantage of the boom in the natural gas space.”