Raymond James has revised its price target for Coterra Energy (CTRA, Financial), lowering it from $37 to $33, while maintaining an Outperform rating on the stock. This adjustment comes as the energy sector faces a challenging environment, with oil prices having dropped approximately $10 per barrel since the end of February. This change in the global oil market has been influenced by factors such as tariff conflicts and strategic decisions by OPEC+.
The current climate has left many in the Exploration & Production sector in a phase of uncertainty, prompting companies to adopt a cautious "wait and see" approach. Despite these challenges, Raymond James anticipates that Coterra Energy and its peers will deliver performance in line with expectations for the first quarter. The firm continues to monitor developments closely as the oil market evolves.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 26 analysts, the average target price for Coterra Energy Inc (CTRA, Financial) is $33.79 with a high estimate of $40.00 and a low estimate of $27.00. The average target implies an upside of 30.71% from the current price of $25.85. More detailed estimate data can be found on the Coterra Energy Inc (CTRA) Forecast page.
Based on the consensus recommendation from 26 brokerage firms, Coterra Energy Inc's (CTRA, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Coterra Energy Inc (CTRA, Financial) in one year is $34.54, suggesting a upside of 33.62% from the current price of $25.85. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Coterra Energy Inc (CTRA) Summary page.
