UBS Downgrades Cabot Oil & Gas (COG) to Neutral; Lower Macro Outlook Restrains Valuation
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Price: $72.28 +2.85%
Rating Summary:
14 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
14 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade COG Now!
UBS downgraded Cabot Oil & Gas (NYSE: COG) from Buy to Neutral. PT lowered from $40 to $38.
UBS analyst says, "Based on our lower natural gas outlook, we downgrade shares of Cabot on valuation. This note is a companion to our industry report entitled Adjusting Natural Gas and Oil Price Deck. We observe COG shares trading at the fullest multiple of our gassy SMID-cap names of 8.9x 2011E EBITDAX. As shares are up 25% since September vs. 19% for gassy peers, we believe positive catalysts such as Marcellus expansion in 2011, further Eagle Ford successes, and potential Haynesville monetization are already reflecting in share valuation."
For more ratings news on Cabot Oil & Gas click here and for the rating history of Cabot Oil & Gas click here.
Shares of Cabot Oil & Gas closed at $35.90 yesterday, with a 52 week range of $26.62-$46.46.
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UBS analyst says, "Based on our lower natural gas outlook, we downgrade shares of Cabot on valuation. This note is a companion to our industry report entitled Adjusting Natural Gas and Oil Price Deck. We observe COG shares trading at the fullest multiple of our gassy SMID-cap names of 8.9x 2011E EBITDAX. As shares are up 25% since September vs. 19% for gassy peers, we believe positive catalysts such as Marcellus expansion in 2011, further Eagle Ford successes, and potential Haynesville monetization are already reflecting in share valuation."
For more ratings news on Cabot Oil & Gas click here and for the rating history of Cabot Oil & Gas click here.
Shares of Cabot Oil & Gas closed at $35.90 yesterday, with a 52 week range of $26.62-$46.46.
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