Morgan Stanley lowered the firm’s price target on Coterra Energy to $26 from $27 and keeps an Equal Weight rating on the shares. The energy sector is experiencing an improving macro backdrop, which has led to a catch-up trend experience in energy stocks, the analyst tells investors. With valuations still 2x the historic discount vs S&P, strong free-cash-flow yields, and positive earnings revisions, the firm sees a path to further outperformance.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CTRA:
- Coterra Energy price target lowered to $31 from $33 at Stifel
- Coterra Energy price target lowered to $34 from $35 at Mizuho
- Coterra Energy (NYSE:CTRA): An Overlooked S&P 500 Stock that Could Shine
- Coterra Energy price target raised to $35 from $33 at Piper Sandler
- Coterra Energy sees FY24 free cash flow roughly $1.3B
