Canaccord Genuity Reiterates a 'Buy' on Cabot Oil & Gas (COG); Q3/11: Strong '12 Growth, Meaningful Takeaway Uplift
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Price: $22.25 --0%
Rating Summary:
20 Buy, 23 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
20 Buy, 23 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Canaccord Genuity reiterates a 'Buy' on Cabot Oil & Gas (NYSE: COG) price target raised $2 to $106.00.
Canaccord analyst, John Gerdes, said, "We believe COG should outperform its Marcellus peers over the next year as the company’s differential Marcellus Shale productivity is fully appreciated and EQT/RRC’s ~20% takeout premium dissipates. In ’12, Cabot should spend within cash generation and grow production over 60%, while EQT/Range Resources are projected to spend 50%-60% beyond cash flow and increase production 30-45%. We believe these relationships provide a stark indication of Cabot’s superior productivity. Further, COG trades at ~8x ’12E EBITDA, which is significantly below the 11-13x ’12 EBITDA trading range of Range (NYSE: RRC)/ EQT Corp (NYSE: EQT)."
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 $78.42 yesterday.
Canaccord analyst, John Gerdes, said, "We believe COG should outperform its Marcellus peers over the next year as the company’s differential Marcellus Shale productivity is fully appreciated and EQT/RRC’s ~20% takeout premium dissipates. In ’12, Cabot should spend within cash generation and grow production over 60%, while EQT/Range Resources are projected to spend 50%-60% beyond cash flow and increase production 30-45%. We believe these relationships provide a stark indication of Cabot’s superior productivity. Further, COG trades at ~8x ’12E EBITDA, which is significantly below the 11-13x ’12 EBITDA trading range of Range (NYSE: RRC)/ EQT Corp (NYSE: EQT)."
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 $78.42 yesterday.
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