SilverBow Resources price target raised to $47 from $45 at Truist

Truist raised the firm’s price target on SilverBow Resources to $47 from $45 and keeps a Buy rating on the shares. The analyst cites the company’s higher Q1 earnings and free cash flow, driven primarily by better than expected quarterly liquids production. SilverBow also boosted 2024 production guidance while keeping annual suggested CAPEX the same, driven by the strong Q1 along with continued tailwinds as it continues to focus on liquids, Truist added.