UBS Upgrades Coterra Energy to Buy, Lowers Price Target to $31
Portfolio Pulse from Benzinga Newsdesk
UBS analyst Josh Silverstein has upgraded Coterra Energy (NYSE:CTRA) from Neutral to Buy, while also reducing the price target from $33 to $31.
December 14, 2023 | 3:42 pm
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Coterra Energy has been upgraded by UBS from Neutral to Buy, although the price target was lowered from $33 to $31.
The upgrade to Buy suggests a positive outlook on Coterra Energy's performance, indicating a potential increase in stock price. However, the reduction in the price target may temper some of the positive sentiment, as it implies a more conservative valuation than previously estimated. The net effect is likely to be positive in the short term as upgrades typically have a stronger immediate impact on stock prices than moderate price target adjustments.
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IMPORTANCE 75
RELEVANCE 100