Truist raised the firm’s price target on Coterra Energy (CTRA) to $33 from $31 and keeps a Buy rating on the shares. The company’s announced Permian Basin acquisitions are positive, primarily because the additional assets should eliminate any short inventory thesis, the analyst tells investors in a research note. Truist’s well data suggests the acquired acreage will immediately compete for capital, ensuring solid continued Delaware well results, the firm added.
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