From Financial Modeling Prep: 2024-11-14 07:31:00

Wolfe Research analysts raised Coterra Energy’s price target to $32, maintaining an Outperform rating. Recent acquisitions and operational improvements are driving optimism in the energy sector.

Coterra has lagged behind the Russell 3000 Energy Index by 10% this year, but recent acquisitions in the Permian Basin have dispelled acquisition rumors. The company’s drilling inventory in New Mexico is now stronger, setting it up for improved performance.

A new three-year outlook from Coterra, expected with year-end results, could boost medium-term free cash flow growth expectations. Wolfe Research’s base case scenario suggests potential value upside as the company integrates new assets and focuses on operational efficiencies.



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