BUZZ-Coterra Energy gains as William Blair initiates coverage with 'outperform' rating

Reuters11-26
BUZZ-Coterra Energy gains as William Blair initiates coverage with 'outperform' rating

** Shares of Coterra Energy CTRA.N up 1.3% at $26.17

** William Blair initiates coverage on energy company with "outperform" rating

** Brokerage expects Coterra's diversified Permian and Marcellus footprint, combined with strong capital discipline, to drive 2026 production growth with sequentially lower capex

** "We anticipate a resumption of material shareholder return given the pristine balance sheet and potential for higher future free cash flow" - William Blair

** Brokerage adds it believes Coterra will sell its Mid-Continent assets to fund another Permian acquisition

** 21 of 25 brokerages rate the stock "buy" or higher and four "hold"; median PT is $32 - data compiled by LSEG

** Including session's moves, stock up 2.4% YTD

(Reporting by Dharna Bafna in Bengaluru)

((dharna.bafna@thomsonreuters.com))

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