Coterra Energy (CTRA) PT Raised to $37 at Mizuho

Mizuho analyst Nitin Kumar raised the price target on Coterra Energy (NYSE: CTRA) to $37.00 (from $34.00) while maintaining a Buy rating.

The analyst commented: "Stock Reaction to PR - Positive. Based on investor discussions, the expectation was for CTRA to miss earnings on weaker gas prices and lower oil volumes. The company once again defied the naysayers - topping oil volumes by ~5%/3% above MSUSAe/Street and beating EBITDA estimates by ~1%/7%, respectively. CTRA returned 90% of FCF in the quarter via the dividend and share buybacks, while increasing the 2024-2026 oil volume outlook. We raise our PT to $37, reiterate Buy rating and Top Pick designation."

You May Also Be Interested In

• CIENA (CIEN) PT Raised to $600 at Raymond James
• CLSA Downgrades Heineken Malaysia Bhd (HEIM:MK) to Hold (3)
• JPMorgan Downgrades Inpex Corp (1605:JP) to Neutral