Coterra Energy price target lowered to $37 from $41 at Raymond James

Raymond James lowered the firm’s price target on Coterra Energy (CTRA) to $37 from $41 and keeps an Outperform rating on the shares following year-end results and the significant fall in oil prices. Coterra’s three-year outlook implies the potential for steady growth in total production and oil volumes on relatively flat capital expenditures, the analyst tells investors in a research note. The firm says Coterra’s significant natural gas exposure helps mitigate some of the oil weakness that the industry is absorbing.