CRZO is quickly approaching my Fair Value estimate of $44/share, so I decided to take a hard look at my forecast model.
$44 is just 6X my forecast cash flow per share, so I could justify a higher target price. I will upgrade it if they hit my forecast for the 2nd quarter. They appear to be on-track for a HUGE jump in earnings and cash flows in 2012 but I want to see a bit more proof.
It is still a BUY up to my Fair Value estimate of $44/share.