Roth MKM analyst Leo Mariani upgraded Coterra Energy to Buy from Neutral with a price target of $29, up from $25. The firm cites the company’s relatively high natural gas exposure, which it expects to “recover nicely” in 2025, its “solid” balance sheet, high returns of capital to investors and its strong execution on the oil production side for the upgrade. Coterra provides investors with “nice cash flow upside” in 2025 if natural gas prices recover meaningfully as it is lightly hedged, the analyst tells investors in a research note.
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