Morgan Stanley analyst Devin McDermott raised the firm’s price target on Coterra Energy to $30 from $29 and keeps an Equal Weight rating on the shares. After rallying from February to mid-April, oil E&P and Integrated stocks, as well as crude oil, have pulled back, the analyst tells investors. Fundamentals are positively skewed heading into summer, but there are some emerging risks, Morgan Stanley adds. The firm is refreshing its estimates and remains constructive but selective on its positions in the sector.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CTRA:
- Coterra Energy participates in a conference call with JPMorgan
- Coterra Energy upgraded to Buy from Hold at Truist
- Coterra Energy price target raised to $39 from $37 at Piper Sandler
- Coterra Energy price target raised to $41 from $37 at Mizuho
- Coterra Energy price target raised to $37 from $34 at Mizuho