UPDATE: Ladenburg Thalmann Reiterates Buy Rating on Cabot Oil & Gas, Lowers TP

Earlier today, Ladenburg Thalmann Financial Services released a company update in which it reiterated its Buy rating Cabot Oil & Gas Corporation

, but lowered their target price from $52.50 to $42, following a fire at a natural gas compressor station in Susquehanna County, Pennsylvania. In the report, Ladenburg Thalmann said that, “COG indicated that the investigation has just begun as to any potential equipment damage, if any, at the Lathrop compression station, the length of disruption and/or the potential impact. Thus, we will adjust our estimates, if necessary, when more information becomes available.” Cabot Oil & Gas Corporation closed yesterday at $30.25.