Coterra Energy price target lowered to $36 from $37 at Piper Sandler

Piper Sandler lowered the firm’s price target on Coterra Energy (CTRA) to $36 from $37 and keeps an Overweight rating on the shares. Discussing the space, the firm says that for Q4, it anticipates strong prints from the gas equities, while WAHA pricing and weak oil and NGL prices were a headwind for oil names. Heading into FY26, the expectations are broadly for maintenance programs across Piper’s oil coverage, while a number of gas producers are pushing for growth in response to increased LNG demand.