Coterra Energy price target raised to $33 from $32 at Wells Fargo

Wells Fargo raised the firm’s price target on Coterra Energy (CTRA) to $33 from $32 and keeps an Overweight rating on the shares. The firm notes Coterra is progressing in resolving recent Harkey shale challenges. While the second half of the year oil trajectory poses risk, management is confident in a strong Q4 ramp with key wells online. Wells remains constructive on Coterra given its diversified commodity mix and attractive valuation.