Nat gas names likely to keep struggling in 2018, Morgan Stanley says
Seeking Alpha
Published Dec 16, 2017 07:05AM ET
Nat gas names likely to keep struggling in 2018, Morgan Stanley says
- Things may be looking up for oil investors but natural gas investors could face another difficult year in 2018, Morgan Stanley (NYSE:MS) says in reiterating its long-term price projection for natural gas of $2.75.
- Increasing productivity and efficiency and the rise of renewable energy will continue to pressure gas prices in the long-term, Stanley says.
- But while the firm remains bearish over the medium- to long-term, it thinks winter 2017-18 prices have overcorrected modestly to the downside.
- Among nat gas E&P companies, Stanley says Cabot Oil & Gas (NYSE:COG) is its top stock pick while Gulfport Energy (NASDAQ:GPOR) and Southwestern Energy (NYSE:SWN) are its least preferred names.
- The firm rates Antero Resources (NYSE:AR), Range Resources (NYSE:RRC) and EQT Corp. (NYSE:EQT) at Equal Weight, while GPOR and SWN are Underweight.
- ETFs: UNG, UGAZ, DGAZ, BOIL, GASL, FCG, GAZ, KOLD, UNL, GASX, DCNG, GAZB
- Now read: Williams And Cabot Face Eleventh Hour Resistance To Atlantic Sunrise From Environmentalists
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