CRK - Comstock -7% but Cabot rises after Piper Sandler downgrades both

Comstock Resources ([[CRK]] -7.7%) tumbles after Piper Sandler downgrades shares to Neutral from Overweight with a $6 price target, cut from $6.50, citing its below-average free cash flow and higher leverage.The firm also cuts Cabot Oil & Gas ([[COG]] +0.8%) to Neutral with a $20 target on valuation concerns, but Cabot shares are trading higher.The February freeze drove natural gas markets into chaos but otherwise, the earnings season for the gas E&Ps came in according to expectations, and the companies are capitalizing on favorable commodity prices and efficiency gains to generate free cash flow and de-lever, Piper Sandler's Kathy Harrison says.But the analyst says Comstock has a less-favorable risk profile compared with peers, as FCF/EV resides below the average while leverage is above the group.Harrison says she cut Cabot because of valuation and the lack of company-specific catalysts beyond the recent capital return framework update.CNX Resources ([[CNX]] -2.7%) as the

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Comstock -7% but Cabot rises after Piper Sandler downgrades both