Oppenheimer Upgrades Comstock Resources (CRK) to Outperform
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Price: $14.06 +3.53%
Rating Summary:
9 Buy, 16 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 16 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Oppenheimer upgraded Comstock Resources (NYSE: CRK) from Perform to Outperform with a price target of $30, suggesting 55% upside.
The firm cited an improved 2012 outlook following the company's announced acquisition in the Permian Basin earlier this week.
"We believe this acquisition, combined with improved drilling results from its Eagle Ford operations, significantly improves its near-term outlook. In addition, we believe it alleviates investor concern over CRK's ability to grow production volumes outside of its Haynesville gas play," the analyst said.
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 $19.32 yesterday.
The firm cited an improved 2012 outlook following the company's announced acquisition in the Permian Basin earlier this week.
"We believe this acquisition, combined with improved drilling results from its Eagle Ford operations, significantly improves its near-term outlook. In addition, we believe it alleviates investor concern over CRK's ability to grow production volumes outside of its Haynesville gas play," the analyst said.
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 $19.32 yesterday.
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