SM Energy price target raised to $34 from $30 at Raymond James

Raymond James raised the firm’s price target on SM Energy (SM) to $34 from $30 and keeps an Outperform rating on the shares. The firm updated its estimates following the Q1 results and for the higher commodity strip. The company’s CapEx guidance for Q2 was 3% below the firm’s estimate, while oil volumes are in-line, the analyst tells investors in a research note.