Market Overview

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

Related CRK
ETF Outlook for Tuesday, April 15, 2014 (EWH, FCG, PSP, HDV)
Earnings Estimates Moving Higher for Comstock Resources (CRK): Time to Buy? - Tale of the Tape

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.

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

 

Most Popular

Related Articles (CRK)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free