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Barclays upgrades Expand Energy, sees US natural gas market as 'safe haven'

ReutersApr 16, 2025 12:01 PM

Brokerage Barclays upgrades natural gas producer Expand Energy EXE.O to "overweight" from "equal weight", raises PT to $122 from $115

New PT implies a 13.7% upside to the stock's last close

U.S. natural gas market is expected to be a relatively safe investment due to strong demand and limited supply, says Barclays

Brokerage says there is an estimated deficit of over 2 billion cubic feet per day of gas in 2026, which could drive up gas prices

Believes U.S. natural gas demand will be driven by a 5.5 billion cubic feet per day increase in LNG exports in 2026

Brokerage flags risk of potential gas-to-coal switching in power generation, which will reduce natural gas demand

Twenty three out of 28 brokerages rate the stock "buy" or higher, 5 rate "hold" and their median PT is $121.5 as per data compiled by LSEG

As of last close, EXE stock up 4.7% YTD

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