FBR Capital Raises Price Target on Carrizo Oil & Gas (CRZO) After Meeting with Management
- AT&T (T) Agrees to Acquire Time Warner (TWX) for More than $80 Billion - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
FBR Capital reiterated an Outperform rating on Carrizo Oil & Gas (NASDAQ: CRZO), and raised the price target to $50.00 (from $49.00), after meeting with management. The raise in estimates is based on expectations of a three-rig program in the play.
Analyst Chad Mabry commented, "Last week, we hosted management of Carrizo Oil & Gas for investor meetings. Constructive client interest and positive company commentary reinforce our investment thesis on the name. We continue to believe that the Street is undervaluing CRZO on perceptions of lower growth and concerns about cash outspend. However, the value gap appears to be narrowing as 2017 consensus cash flow and production estimates have increased meaningfully over the past month. Additionally, recent developments in the Delaware Basin have been overwhelmingly positive for the company’s position in the play, while events in the Niobrara should facilitate a monetization. We are raising our price target to $50 (from $49) and maintaining our Outperform rating and Alpha Generator status on shares of CRZO."
Shares of Carrizo Oil & Gas closed at $39.57 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results
- Wedbush Reiterates Outperform on Pool Corp. (POOL) Following 3Q Report
- Imperial Capital Raises Price Target on American Airlines (AAL) Following 3Q EPS Beat
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesFBR Alpha Generator
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!