SunTrust Rates Carrizo Oil & Gas A Buy (CRZO)
Analysts at Suntrust's (NYSE: STI) investment banking unit, Robinson Humphrey, released a research report today reiterating their Buy rating on shares of Carrizo Oil & Gas (NASDAQ: CRZO). The firm has a $31 price target on the stock, which is down from $36, but well above CRZO's current market price. The reasons for the lower price target are lower expectations for natural gas prices. During the current trading session, CRZO has fallen 4.80% to $21.83. This stock has a huge short interest at more than 20% of the float. This could be a bullish catalyst, but the stock has been under significant pressure year-to-date, falling over 17%.
Carrizo Oil & Gas, Inc. (CRZO) is an independent energy company, together with its subsidiaries is engaged in the exploration, development, production and transportation of natural gas and oil, principally in the United States.
