Expand Energy transferred with an Equal Weight at Wells Fargo

Wells Fargo analyst Sam Margolin took over coverage of Natural Gas E&P stocks, including Expand Energy (EXE) with an Equal Weight rating and $120 price target The analyst believes U.S. gas markets could undergo a structural change over the next decade that lifts the price floor and reduces risk, which it call an outcome that would be “bullish for equities.” U.S. gas demand is growing with LNG exports and datacenter power draw, the analyst added.