Analysts at Deutsche Bank Securities keeps BUY rating on the shares
of SM Energy (NYSE: SM). The 12-month target price is set to $112.
In a research note published this morning, the analysts mention that
with better than expected oil volumes and outstanding cost control only
overshadowed by weak differentials, the overriding bear thesis of a
divestiture driven mix-shift towards gas in Q1 ended up feeling a bit
like 'Y2K'. Whereas, 20percent discount of stock to its peers seems to
imply an unlikely coming cut to 2012 numbers. It is believed that
continued operational execution to drive share outperformance going
forward.
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