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