KLR Group Upgrades Carrizo Oil & Gas (CRZO) to Buy Following Recent Sell-Off
- Indexes hit record highs as Trump rally continues
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- Lower for longer, ECB scales back asset buys
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Oil rises above $50 on renewed hopes for output cuts
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
KLR Group upgraded Carrizo Oil & Gas (NASDAQ: CRZO) from Accumulate to Buy with a price target of $47.00 (from $44.00), citing valuation following the recent sell-off.
Analyst John Gerdes commented, We are upgrading CRZO from Accumulate to Buy and increasing our target price $3 to $47 per share due to slightly lower capital intensity. CRZO has depreciated ~15% since our mid-October downgrade, underperforming the sector by almost 10%, and now reflects sufficient upside (~40%) to merit a Buy rating.
Carrizo’s mid-cycle capital yield of ~140% is modestly superior to the industry median of ~130%. Our economic model contemplates a three to four-rig program across the asset portfolio in ’17 and a five-rig program thereafter (four rigs allocated to the Eagle Ford)."
Shares of Carrizo Oil & Gas closed at $33.60 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Downgrades Timken (TKR) to Hold
- lululemon athletica (LULU): Good Quarter But Can It Continue - Jefferies
- Mizuho Securities Upgrades Lululemon Athletica Inc. (LULU) to Buy; Sees Upside Continuing
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
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!