Texas Capital downgraded Coterra Energy (CTRA) to Hold from Buy with a price target of $31, down from $34. The firm cites the company’s agreement to merge with Devon Energy (DVN) in an all-stock transaction that is expected to close in Q2 for the downgrade.
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Read More on CTRA:
- The Week That Was, The Week Ahead: Macro and Markets, Mar. 8
- Coterra Energy downgraded to Hold from Buy at Siebert Williams
- Coterra Energy price target raised to $41 from $36 at Piper Sandler
- Coterra Energy price target raised to $38 from $33 at UBS
- Maintained Buy on Coterra Amid Near-Term FCF Miss, Supported by Strong Balance Sheet and Strategic Devon Merger Upside