Coterra Energy price target lowered to $34 from $38 at Raymond James

Raymond James analyst John Freeman lowered the firm’s price target on Coterra Energy (CTRA) to $34 from $38 and keeps an Outperform rating on the shares. Coterra’s Q2 production beat Street estimates by roughly 6%, and its updated guidance for 2025 now anticipates 7% higher capital expenditures and 3% higher production, the analyst tells investors in a research note. The company’s reinvestment rate should remain low relative to its peer group, driven by continued cost efficiencies and a stronger balance sheet from ongoing debt reduction, the firm adds.