Coterra Energy upgraded to Overweight with $35 target at Piper Sandler

Piper Sandler analyst Mark Lear upgraded Coterra Energy to Overweight from Neutral with a price target of $35, up from $30. The company’s Q2 print and updated long-term guidance demonstrate expectations from continued strong execution across the portfolio, the analyst tells investors in a research note. The company’s strategy shift to up-spaced development paired with increased completion intensity is paying off, says the firm.