Carrizo Oil & Gas (CRZO) PT Raised to $76 at Northland Capital Markets

Northland Capital Markets analyst Jeff Grampp reiterated an Outperform rating and boosted his price target on Carrizo Oil & Gas (NASDAQ: CRZO) to $76.00 (from $73.00) on strong Niobrara downspacing results.

Grampp comments, "CRZO announced positive results in the Niobrara from its downspaced, multi-bench tests as eight wells had a strong average IP rate of 1,021 BOEPD (89% oil). Additionally, the company plans to spud its second Utica well shortly to further delineate its acreage. As a result of the strong Niobrara downspacing and multi-bench results, we are increasing our price target from $73 to $76."

For an analyst ratings summary and ratings history on Carrizo Oil & Gas click here. For more ratings news on Carrizo Oil & Gas click here.

Shares of Carrizo Oil & Gas closed at $66.78 yesterday.

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