UPDATE: JP Morgan Cuts PT to $21 on Carrizo Oil & Gas on Model Update
JP Morgan reiterated Carrizo Oil & Gas (NASDAQ: CRZO) with a Neutral rating and lowered the price target from $31.50 to $21.00.
JP Morgan commented, "We are decreasing our price target to $21 from $31.50. We base this target on 300% of YE13E JPM NAV, which is above where the group is trading. The market appears willing to give CRZO a premium multiple, at least over the near term."
Carrizo Oil & Gas closed at $20.74 on Wednesday.
Latest Ratings for CRZO
|Jan 2015||Credit Suisse||Maintains||Neutral|
|Dec 2014||Canaccord Genuity||Initiates Coverage on||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.