Morgan Stanley Issues Rating Changes on Cabot Oil & Gas, Fibria Celulose S.A. (COG, FBR)

Morgan Stanley issues rating changes on the following companies: Cabot Oil & Gas COG from Underweight to Overweight. Morgan Stanley tells investors, "We are upgrading COG to OW from UW and introducing a $45 price target. Our UW call was predicated on our concerns on funding of the capital program and uncertainty surrounding the growth trajectory (air quality permits at the Lathrop station). COG is trading pre-market at $39.11, up 2.09% from yesterday's close. Fibria Celulose SA FBR from Overweight to Equal-weight. PT decreases from $21.50 to $18.50 FBR is at $16.03 in pre-market trading, even with yesterday's close.