UPDATE: Credit Suisse Reinstates Carrizo Oil & Gas to Neutral with PT of $30 on Continuing Liquids Transition

Credit Suisse resumes coverage on Carrizo Oil & Gas

with a Neutral rating and a price target of $30. Credit Suisse notes, "Reinstating Coverage, Transition to Liquids Continues. With the recent closing of its non-operated Barnett divestiture (closed on 5/1/12), CRZO is now better positioned to drive Eagle Ford-driven liquids growth. We now estimate liquids (oil and NGLs) production to grow to 45% (53% of production including 4.5 MBbl/d from the North Sea Huntington contribution) of production by 4Q12 from 26% of production in 1Q12 (including Barnett production)." CRZO closed at $24.68 on Thursday.