Credit Suisse resumes coverage on Carrizo Oil & Gas CRZO with a Neutral rating and a price target of $30.
Credit Suisse notes, "Reinstating Coverage, Transition to Liquids Continues. With the recent closing of its non-operated Barnett divestiture (closed on 5/1/12), CRZO is now better positioned to drive Eagle Ford-driven liquids growth. We now estimate liquids (oil
and NGLs) production to grow to 45% (53% of production including 4.5 MBbl/d from the North Sea Huntington contribution) of production by 4Q12 from 26% of production in 1Q12 (including Barnett production)."
CRZO closed at $24.68 on Thursday.
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