Capital One Southcoast Upgrades Carrizo Oil & Gas (CRZO) to Add
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Capital One Southcoast upgrades Carrizo Oil & Gas (Nasdaq: CRZO) from Neutral to Add and raises its price target from $67 to $74.
The firm cites several catalysts that could push shares of Carrizo higher:
- higher commodity prices
- likely near-term Marcellus acquisitions
- upside to Street consensus estimates
- upside potential to conservative production estimates.
Specifically, Capital One said its net asset value on Carrizo is based on long-term gas prices of $8 and notes that if a $9 gas price was used, its price target would move to $90.
Carrizo Oil & Gas, Inc., together with its subsidiaries, engages in the exploration, development, and production of natural gas and oil. [BCS]
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