Carrizo Oil & Gas (CRZO)

dan_s · Post by **dan_s** » Mon May 11, 2015 11:19 am

I have updated my forecast model for CRZO. It will be available later today on the website.

Carrizo had excellent Q1 results and they raised their production forecast. With more clarification on the production growth for this year, an improving outlook for oil and natural gas prices (heading into 2016) AND the increased likelihood that CRZO is a takeover target > I have increased my Fair Value Estimate for CRZO by $8.00/share to $67.00/share. This compares to First Call's Price Target of $58.87.

I believe CRZO is now one of the Top Five takeover targets in the Eagle Ford. See the premium paid by Noble for ROSE.