Canaccord Genuity Reiterates a 'Buy' on Comstock Resources (CRK); Deals Illustrate Ability to Navigate Capitalization Issues
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Price: $14.22 +2.89%
Rating Summary:
9 Buy, 16 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
9 Buy, 16 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Comstock Resources (NYSE: CRK) price target of $46.00.
Analyst, John Gerdes, said, "We are maintaining our price target following the company’s asset sales. We estimate Comstock should increase its liquids weighting from 5% in ’11 to 22% in ’13. The 17 percentage point increase is over
twice the industry median projection. We estimate Comstock should generate ~20% greater CFPS growth than the group (’12-’14E CAGR). Yet, CRK trades at a ~35% discount (’12E EBITDA) partly, we believe, on liquidity concerns."
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 $17.23 yesterday.
Analyst, John Gerdes, said, "We are maintaining our price target following the company’s asset sales. We estimate Comstock should increase its liquids weighting from 5% in ’11 to 22% in ’13. The 17 percentage point increase is over
twice the industry median projection. We estimate Comstock should generate ~20% greater CFPS growth than the group (’12-’14E CAGR). Yet, CRK trades at a ~35% discount (’12E EBITDA) partly, we believe, on liquidity concerns."
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 $17.23 yesterday.
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