Susquehanna noted Coterra Energy (CTRA) and Devon Energy (DVN) will be merging in an all-stock $58B transaction which is expected to close in 2Q 2026. The transaction will create a leading U.S. operator, with a focus on the Permian basin and is expected to be accretive on per-share metrics, including FCF and NAV. Susquehanna raised its price target on Coterra energy to $34 from $32 and maintains its Positive rating and also raised its target on Devon Energy to $47 from $45 and maintains its Positive rating as well.
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