Canaccord Genuity Reiterates a 'Buy' on Comstock Resources (CRK); Liquidity Improving - Top Small-cap Pick
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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 highlighting CRK as a top small-cap pick and reiterating our target price given the company’s improving liquidity. Comstock recently generated $166 million in asset sale proceeds, which should more than cover this year’s cash flow outspend...We believe Comstock should increase its liquids-weighting from 15% in ’12 to 29% in ’14, generate ~20% greater CFPS growth than the group (’12-’14E CAGR) though it trades at a ~30% discount (’12E EBITDA)."
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 $17.36 yesterday.
Analyst, John Gerdes, said, "We are highlighting CRK as a top small-cap pick and reiterating our target price given the company’s improving liquidity. Comstock recently generated $166 million in asset sale proceeds, which should more than cover this year’s cash flow outspend...We believe Comstock should increase its liquids-weighting from 15% in ’12 to 29% in ’14, generate ~20% greater CFPS growth than the group (’12-’14E CAGR) though it trades at a ~30% discount (’12E EBITDA)."
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 $17.36 yesterday.
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