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Fly News Breaks for May 10, 2018
COG
May 10, 2018 | 07:10 EDT
BofA/Merrill analyst Doug Leggate downgraded Cabot Oil & Gas to Underperform from Buy and cut its price target to $27 from $33. Leggate said Cabot is now levered 100% to natural gas following recent asset sales and changed his rating following a reduction in his long-term gas price outlook to $2.75 from $2.85, saying shares should lag more oil levered peers.
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