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Fly News Breaks for January 4, 2017
COG
Jan 4, 2017 | 07:23 EDT
BofA/Merrill analyst Doug Leggate downgraded Cabot Oil & Gas two notches to Underperform from Buy and lowered its price target to $21 from $27. The analyst said Cabot remains highly dependent on the build out of infrastructure in North East Pennsylvania, where visibility is lacking on whether projects come online or not due to regulatory processes. Further, Leggate views gas levered names as disadvantaged and likely to underperform once heating demand subsides.
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