There’s a lot to be optimistic about in the Utilities sector as 2 analysts just weighed in on Cimarex Energy (XEC) and Suburban Propane (SPH) with bullish sentiments.
Cimarex Energy (XEC)
In a report released today, John Freeman from Raymond James reiterated a Buy rating on Cimarex Energy, with a price target of $35.00. The company’s shares closed last Thursday at $30.65.
According to TipRanks.com, Freeman has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -18.8% and a 28.0% success rate. Freeman covers the Utilities sector, focusing on stocks such as National Fuel Gas Company, Continental Resources, and Black Stone Minerals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cimarex Energy with a $38.92 average price target, representing a 23.4% upside. In a report issued on October 28, Barclays also maintained a Buy rating on the stock with a $41.00 price target.
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Suburban Propane (SPH)
Raymond James analyst Justin Jenkins reiterated a Buy rating on Suburban Propane today and set a price target of $18.00. The company’s shares closed last Thursday at $17.58, close to its 52-week low of $8.64.
According to TipRanks.com, Jenkins is a 2-star analyst with an average return of 0.1% and a 55.8% success rate. Jenkins covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Holly Energy Partners, and Crossamerica Partners.
Currently, the analyst consensus on Suburban Propane is a Moderate Buy with an average price target of $18.00.
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