Imperial Capital Raises Price Target On Carrizo Oil & Gas Following Recent Analyst Day

In a report published Tuesday, Imperial Capital analyst Kim Pacanovsky reiterated an Outperform rating on

, and raised the price target from $52.00 to $57.00. In the report, Imperial Capital noted, “We are maintaining our Outperform rating and are raising our one-year price target to $57 from $52, about 20% above the recent share price. Within a poor commodity outlook environment, CRZO continues to impress us with fiscal discipline, liquidity, and the ability to collect and analyze data in order to improve capital allocation decisions and efficiencies at the wellhead. CRZO has positioned itself to continue a program in its core Eagle Ford acreage that will allow it to run flat oil production from 4Q15 through 2015. We are more concerned with the ability to maintain liquidity through the downturn and subsequent capability to quickly ramp when prices return, than with production growth, and in this light, CRZO remains one of our top picks. We do not rate CRZO's debt securities.” Carrizo Oil & Gas closed on Monday at $48.36.