Market Overview

UPDATE: Sterne Agee Initiates Coverage on Carrizo Oil & Gas on Upside from Drilling Inventory Expansion, Utica Shale Catalysts

Share:
Related CRZO
MLV Energy Analyst Likes Carrizo Oil & Gas, PDC Energy And Sanchez Energy
Benzinga's Top Initiations

In a report published Friday, Sterne Agee analyst Tim Rezvan initiated coverage on Carrizo Oil & Gas (NASDAQ: CRZO) with a Buy rating and $50.00 price target.

In the report, Sterne Agee noted, “We are initiating coverage of Carrizo with a Buy rating and $50 PT. Despite Carrizo's YTD rally (+96%), we still see upside. Eagle Ford downspacing testing and drilling results from the Utica Shale should validate the quality and depth of Carrizo's inventory in these plays, and potential bolt-on acquisitions with proceeds from a non-core asset sale should provide further running room to complement core positions in the Eagle Ford Shale and Niobrara.”

Carrizo Oil & Gas closed on Thursday at $40.98.

Latest Ratings for CRZO

DateFirmActionFromTo
Jan 2015KeyBancUpgradesHoldBuy
Dec 2014Canaccord GenuityInitiates Coverage onBuy
Dec 2014Imperial CapitalMaintainsOutperform

View More Analyst Ratings for CRZO
View the Latest Analyst Ratings

Posted-In: Sterne Agee Tim RezvanAnalyst Color Initiation Analyst Ratings

 

Related Articles (CRZO)

Around the Web, We're Loving...

Get Benzinga's Newsletters