Coterra Energy price target raised to $31 from $28 at Susquehanna

Susquehanna raised the firm’s price target on Coterra Energy to $31 from $28 and keeps a Neutral rating on the shares. The analyst updated estimates for the exploration and production sector ahead of the Q3 reports. The firm maintained its 2024 WTI crude assumption of $80 per barrel while lowering its Henry Hub natural gas price to $3.75/mmbtu from $4. Companies continue with their maintenance capital programs, with improvements in well productivity driving modest production gains, the analyst tells investors in a research note.