Cabot Oil & Gas: Still A Buy, Just Not A Strong Buy, Says Raymond James

Cabot Oil & Gas (COG) is lower Friday, hurt in part by a downgrade from Raymond James–although the firm remains bullish on the stock.

Analyst John Freeman and his team cut their rating on the stock from Strong Buy to Outperform, and lowered their price target from $32 to $27, writing that the downgrade comes on the heels of Cabot’s recent outperformance, as well as their belief that there’s less net asset value upside for the firm, given natural gas prices.
Source: Barrons

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>