KeyBanc analyst Tim Rezvan upgraded Expand Energy (EXE) to Overweight from Sector Weight with a $130 price target The analyst believes oil prices are “overly pressured” near term, pricing in worst case outlooks on OPEC+ growth, U.S. oil growth, and a global recession. The firm upgraded Expand Energy due to its “defensiveness” as an investment grade-rated, S&P 500 natural gas “bellwether” and its expectations for improving Haynesville productivity on the Southwestern acreage. KeyBanc expects to see Haynesville Shale productivity improve on Expand’s now larger footprint.
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