UPDATE: Mizuho Securities Starts Comstock Resources (CRK) at Buy

(updating comment)

Mizuho Securities analyst Vincent Lovaglio initiates coverage on Comstock Resources (NYSE: CRK) with a Buy rating and a price target of $9.00.

The analyst comments "The company has the right profile for our abovestrip gas price outlook, with lower cost operations that protect cash margins and relatively higher financial leverage. Assuming our gas price forecast holds, we believe CRK will generate 30%+ free cash flow yield in 2022 with leverage ~1.7x."

For an analyst ratings summary and ratings history on Comstock Resources click here. For more ratings news on Comstock Resources click here.

Shares of Comstock Resources closed at $5.10 yesterday.

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