Coterra Energy price target lowered to $32 from $35 at Scotiabank

Scotiabank lowered the firm’s price target on Coterra Energy (CTRA) to $32 from $35 and keeps an Outperform rating on the shares. The firm is updating its price targets for U.S. Integrated Oil, Refining, and Large Cap E&P stocks under its coverage, the analyst tells investors. While the firm’s latest forecast is above consensus, the revised estimates are “disappointing” compared to what industry margin indicators originally suggested.