Canaccord Genuity Maintains a 'Buy' on Cabot Oil & Gas (COG); Still A Favorite
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Price: $71.34 -1.3%
Rating Summary:
14 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Rating Summary:
14 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Trade COG Now!
Canaccord Genuity maintains a 'Buy' on Cabot Oil & Gas (NYSE: COG) price target of $66.00.
Analyst, John Gerdes, said, "We are maintaining our COG target price after a minor production outage related to a Lathrop compressor station fire. Our ’12 production growth estimate fell one percentage point to 60% though is 10 percentage points above company guidance (35-50%)."
"Next year, we believe Cabot should generate almost 4x the production growth while spending ~40% less than cash flow as these peers spend ~40% beyond cash flow. Accordingly, we see ~50% upside to COG shares even in a long-term $4 gas price environment while EQT (NYSE: EQT), Range Resources (NYSE: RRC), Southwestern (NYSE: SWN) and Ultra Petroleum (NYSE: UPL) have ~30% downside in this bear-case scenario."
For an analyst ratings summary and ratings history on Cabot Oil & Gas click here. For more ratings news on Cabot Oil & Gas click here.
Shares of Cabot Oil & Gas closed at $31.94 yesterday, with a 52 week range of $29.44-$90.00.
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Analyst, John Gerdes, said, "We are maintaining our COG target price after a minor production outage related to a Lathrop compressor station fire. Our ’12 production growth estimate fell one percentage point to 60% though is 10 percentage points above company guidance (35-50%)."
"Next year, we believe Cabot should generate almost 4x the production growth while spending ~40% less than cash flow as these peers spend ~40% beyond cash flow. Accordingly, we see ~50% upside to COG shares even in a long-term $4 gas price environment while EQT (NYSE: EQT), Range Resources (NYSE: RRC), Southwestern (NYSE: SWN) and Ultra Petroleum (NYSE: UPL) have ~30% downside in this bear-case scenario."
For an analyst ratings summary and ratings history on Cabot Oil & Gas click here. For more ratings news on Cabot Oil & Gas click here.
Shares of Cabot Oil & Gas closed at $31.94 yesterday, with a 52 week range of $29.44-$90.00.
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