Roth/MKM Upgrades Coterra Energy (CTRA) to Buy

Roth/MKM analyst Leo Mariani upgraded Coterra Energy (NYSE: CTRA) from Neutral to Buy with a price target of $29.00.

The analyst comments: "We rate Coterra a Buy due to its relatively high natural gas exposure, which we expect to recover nicely in 2025, its solid balance sheet, high returns of capital to investors and its strong execution on the oil production side. CTRA Provides Investors With Nice Cash Flow Upside In 2025 If Natural Gas Prices Recover Meaningfully As It Is Lightly Hedged. We expect Henry Hub natural gas prices to recover from $2.30 per Mcf in 2024 to $3.00 per Mcf in 2025. CTRA provides investors with solid upside in cash flows in that scenario as we see a ~20% increase y/y in 2025. CTRA has only around 11% of its gas production hedged in 2025 at about a $5.00 ceiling."

For an analyst ratings summary and ratings history on Coterra Energy click here. For more ratings news on Coterra Energy click here.

Shares of Coterra Energy closed at $24.20 yesterday.

You May Also Be Interested In

• HSBC Upgrades Bayerische Motoren Werke AG (BMW:GR) (BMWYY) to Buy
• Netflix (NFLX) PT Lowered to $95 at Bernstein SocGen Group
• Molina Healthcare to join S&P MidCap 400, Construction Partners to join S&P SmallCap 600