In a report released today, David Deckelbaum from TD Cowen maintained a Buy rating on Coterra Energy, with a price target of $33.00.
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David Deckelbaum has given his Buy rating due to a combination of factors including the company’s pricing and financial performance. Despite Coterra Energy’s natural gas and NGL prices being lower than expected, the oil prices slightly exceeded projections, indicating resilience in a volatile market.
Furthermore, while there was a slight decrease in EBITDA and free cash flow estimates, these figures were only marginally below consensus expectations. This suggests that Coterra Energy maintains a strong financial position, justifying a positive outlook and a Buy recommendation.
In another report released yesterday, Roth MKM also maintained a Buy rating on the stock with a $26.00 price target.