Piper Sandler raised the firm’s price target on Coterra Energy (CTRA) to $47 from $41 and keeps an Overweight rating on the shares. Piper cites its increased price deck for the target bump. The firm increased its mid-cycle crude price forecast to $75 per barrel from $70 amid the Iran war. The analyst expects lasting supply impacts. Higher prices are required to incentivize investment in production, the analyst tells investors in a research note.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CTRA:
- Coterra Energy downgraded to Hold from Buy at Texas Capital
- The Week That Was, The Week Ahead: Macro and Markets, Mar. 8
- Coterra Energy downgraded to Hold from Buy at Siebert Williams
- Coterra Energy price target raised to $41 from $36 at Piper Sandler
- Coterra Energy price target raised to $38 from $33 at UBS