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Fly News Breaks for August 1, 2017
COG
Aug 1, 2017 | 08:15 EDT
As previously reported, Morgan Stanley upgraded Cabot Oil & Gas to Overweight from Equal Weight and increased its price target to $31 from $24. Analyst Drew Venker said Cabot offers "excellent" risk/reward in a volatile oil/gas price environment and said downside is limited from lower gas prices due to a strong balance sheet and free cash flow. The analyst said shares trade in line with peers despite much stronger metrics of exceptional capital efficiency and free cash flow.
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