Coterra Energy price target lowered to $24 from $28 at JPMorgan

JPMorgan lowered the firm’s price target on Coterra Energy (CTRA) to $24 from $28 and keeps an Overweight rating on the shares following the Q3 report. The firm says Coterra continues to excel in the field and financially, yet the company “continues to snatch defeat from the jaws of victory with its messaging on M&A.” Inexplicably, the company answered a specific question that wasn’t asked, highlighting factors that would cause the company to “stretch” in terms of acquisitions, the analyst tells investors in a research note.