UPDATE: Morgan Stanley Reiterates on Southwestern Energy Company as Marcellus EURs are Below Expectations

In a report published Friday, Morgan Stanley analyst Drew Venker reiterated an Underweight rating on Southwestern Energy Company (NYSE: SWN ), but lowered the price target from $36.00 to $33.00. In the report, Morgan Stanley noted, “Southwestern reported Marcellus EURs that were below our estimates. We are lowering our price