UPDATE: KLR Group Upgrades Cabot Oil & Gas Corporation Following Eagle Ford Acquisition

In a report published Friday, KLR Group analyst John Gerdes upgraded the rating on

from Accumulate to Buy, and raised the price target from $42.00 to $44.00. In the report, KLR Group noted, “We are upgrading COG from Accumulate to Buy and increasing our target price $2 to $44 per share driven by the recent Eagle Ford acquisition and corresponding increase in activity. Our target price now reflects ~40% upside and thus merits an upgrade. Our '15 production growth expectation of ~27% is in the upper half of company guidance (20%-30%).” Cabot Oil & Gas Corporation closed on Thursday at $31.43.