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UPDATE: Canaccord Genuity Reduces PT to $36 on Comstock Resources

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Canaccord Genuity reiterated its Buy rating on Comstock Resources (NYSE: CRK) but lowered its price target from $39 to $36 on weak gas volume outlook.

Canaccord Genuity commented, "We our lowering our target price $3 to $36 per share due to a stronger than anticipated rollover in Haynesville gas production and a lower gas price realization. In '13, we now expect the company's overall gas production to decline ~25% (in line with guidance) versus our prior expectation of a ~15% decline."

Comstock Resources closed at $17.87 on Friday.

Latest Ratings for CRK

DateFirmActionFromTo
Dec 2014BarclaysMaintainsEqual-weight
Dec 2014Imperial CapitalMaintainsOutperform
Dec 2014Global HunterDowngrades

View More Analyst Ratings for CRK
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Price Target Intraday Update Analyst Ratings

 

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