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UPDATE: Jefferies Raises PT on Cabot Oil & Gas on Free Cash Flow

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In a report published Monday, Jefferies analyst Biju Z. Perincheril reiterated a Buy rating on Cabot Oil & Gas Corporation (NYSE: COG), and raised the price target from $76.00 to $84.00.

In the report, Perincheril noted, “Sustainable free cash flow is one of the ultimate goals of shale development, and Cabot is one of the first companies to reach it. The company will soon have to wrestle with the novel question of what to do with all that cash. Acceleration of Marcellus activity is the primary option. Increasing NAV to $84 from $76 to reflect accelerated activity. Potential natural gas price weakness could be a headwind near-term, however.”

Cabot Oil & Gas Corporation closed on Friday at $67.31.

Latest Ratings for COG

DateFirmActionFromTo
Sep 2016GMP SecuritiesAssumesBuy
Sep 2016Raymond JamesUpgradesMarket PerformStrong Buy
Sep 2016BarclaysMaintainsEqual-weight

View More Analyst Ratings for COG
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Posted-In: JefferiesAnalyst Color Price Target Analyst Ratings

 

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