UPDATE: Baird Equity Research Reiterates on Cabot Oil & Gas Corporation Following 3Q13 Release

In a report published Monday, Baird Equity Research analyst Daniel P. Katzenberg reiterated an Outperform rating on Cabot Oil & Gas Corporation COG, and raised the price target from $43.00 to $48.00. In the report, Baird Equity Research noted, “Following COG's 3Q13 release, we reiterate our Outperform rating and raise our price target to $48 from $43 to reflect changes to our RNAV and estimates. We continue to be impressed by COG's ability to deliver improving recoveries in the Marcellus and expect top-quartile production growth and IRRs for several years to come. Additionally, we believe Appalachian differentials will improve in the colder months and see the recent relative weakness in the stock as an attractive buying opportunity.” Cabot Oil & Gas Corporation closed on Friday at $36.98.