Canaccord Genuity Reiterates a 'Buy' on Carrizo Oil & Gas (CRZO); Potential Deals Viewed Positively

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Canaccord Genuity reiterates a 'Buy' on Carrizo Oil & Gas (NASDAQ: CRZO) price target of $48.00.

Analyst, John Gerdes, said, "We believe the potential sale of the North Sea and increase in Eagle Ford/Niobrara activity would be viewed positively...The announced Barnett deal removed the financial need to sell the North Sea asset, in our view, with ’13E revolver draw five points below the sector at 55%. Yet the sale could further clean up the “story” and allow the company to pull value forward in the Niobrara and Eagle Ford."

For an analyst ratings summary and ratings history on Carrizo Oil & Gas click here. For more ratings news on Carrizo Oil & Gas click here.

Shares of Carrizo Oil & Gas closed at $26.33 yesterday, with a 52 week range of $18.02-$44.17.

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