Coterra Energy price target raised to $33 from $30 at Roth MKM

Roth MKM raised the firm’s price target on Coterra Energy (CTRA) to $33 from $30 and keeps a Buy rating on the shares as part of a broader research note on the Energy sector. The firm is raising its 2025 WTI oil price forecast by 1% to $71, stating that while it sees modest risk to the downside for oil prices for the rest of the year due to likely supply increases from OPEC, it also believes that these increases are likely to be largely offset by the loss of barrels in sanctioned countries like Iran and Russia keeping oil markets close to balanced, the analyst tells investors in a research note. Strong demand for natural gas from much higher LNG exports and gas fired power generation and solid supply discipline from producers should be supportive of natural gas prices for the next few years, the firm states. Roth is adding that it prefers E&Ps with better balance sheets that can generate strong free cash flow, have a lower cost of production, can return capital to shareholders and modestly grow production over time.