Canaccord Genuity Reiterates a 'Buy' on Cabot Oil & Gas (COG); Lower 2012/13 Growth, Higher Medium-Term Outlook
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Price: $22.25 --0%
Rating Summary:
20 Buy, 23 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 19
Rating Summary:
20 Buy, 23 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 19
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Canaccord Genuity reiterates a 'Buy' on Cabot Oil & Gas (NYSE: COG) price target raised $4 to $66.
Analyst, John Gerdes, said, "We are raising our target price as stronger medium-term growth associated with the Constitution pipeline is partly offset by a lower ‘12/’13 production outlook. After cutting capital spending, we believe Cabot should still generate triple the CFPS growth of the group (’11-’13E CAGR), while spending within cash flow as the sector spends ~35% beyond cash generation. Even in a $4 long-term gas environment, Cabot presents 28% upside to our bear-case target. We believe the company is the only Marcellus player in our coverage with upside in a $4 gas price environment and remains our favorite gas-weighted name."
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 $36.01 yesterday.
Analyst, John Gerdes, said, "We are raising our target price as stronger medium-term growth associated with the Constitution pipeline is partly offset by a lower ‘12/’13 production outlook. After cutting capital spending, we believe Cabot should still generate triple the CFPS growth of the group (’11-’13E CAGR), while spending within cash flow as the sector spends ~35% beyond cash generation. Even in a $4 long-term gas environment, Cabot presents 28% upside to our bear-case target. We believe the company is the only Marcellus player in our coverage with upside in a $4 gas price environment and remains our favorite gas-weighted name."
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 $36.01 yesterday.
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