There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Western Gas (NYSE:WES) and SM Energy (NYSE:SM) with bullish sentiments.
Western Gas (WES)
In a report released today, Selman Akyol from Stifel Nicolaus maintained a Buy rating on Western Gas, with a price target of $64. The company’s shares closed yesterday at $50.60.
According to TipRanks.com, Akyol is a 4-star analyst with an average return of 2.7% and a 61.1% success rate. Akyol covers the Basic Materials sector, focusing on stocks such as Energy Transfer Partners LP, Dcp Midstream Partners Lp, and Compressco Partners LP.
Western Gas has an analyst consensus of Moderate Buy, with a price target consensus of $56.50, which is an 11.7% upside from current levels. In a report issued on July 31, Citigroup also maintained a Buy rating on the stock with a $56 price target.
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SM Energy (SM)
In a report released today, Michael Scialla from Stifel Nicolaus maintained a Buy rating on SM Energy, with a price target of $40. The company’s shares closed yesterday at $26.95, close to its 52-week high of $28.45.
According to TipRanks.com, Scialla is a 3-star analyst with an average return of 2.9% and a 58.0% success rate. Scialla covers the Basic Materials sector, focusing on stocks such as Abraxas Petroleum Corp, Whiting Petroleum Corp, and Jagged Peak Energy Inc.
SM Energy has an analyst consensus of Moderate Buy, with a price target consensus of $31.89, implying a 18.3% upside from current levels. In a report issued on July 19, Williams Capital also reiterated a Buy rating on the stock with a $44 price target.
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