Canaccord Genuity Maintains a 'Buy' on Cabot Oil & Gas (COG); Risk Into the Quarter on Price Realizations; Likely Long-term Marcellus Outperformance

Canaccord Genuity maintains a 'Buy' on Cabot Oil & Gas (NYSE: COG) price target of $104.00.

Canaccord analyst, John Gerdes, said, "Near-term COG underperformance possible: Cabot’s earnings/’12 guidance after Wednesday’s close should evidence weaker near-term gas price realizations and may lead to share price underperformance...By year-end, realizations should improve: The Laser pipeline (operational last week) allows Cabot to move 50 Mmcfepd to the Millenium interstate system. In mid-December, commencement of the Springville line should allow Cabot to transfer 250-300 Mmcfpd (50%+ of Marcellus production) from the price-depressed Tennessee 300 line to the Transco system, which offers pricing modestly above NYMEX."

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 $70.29 yesterday.

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