Goldman Sachs Upgrades Cabot Oil & Gas (COG) to Buy

July 9, 2012 7:41 AM EDT
Get Alerts COG Hot Sheet
Price: $22.22 +2.54%

Rating Summary:
    21 Buy, 21 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 34 | New: 34
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Goldman Sachs upgraded Cabot Oil & Gas (NYSE: COG) from Neutral to Buy with a price target of $55 (up from $41), suggesting 38% upside.

The firm said COG is the lowest cost dry gas shale producer in the US and they see shares outperforming in a rising gas price environment in 2013.

"We see its concentrated high quality Marcellus Shale position and robust production inventory driving best in class growth/returns/free cash over the next few years," the firm said.

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 $39.51 yesterday.

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