CRZO - Upgrade from J P Morgan
Posted: Fri May 13, 2016 12:22 pm
Carrizo Oil & Gas (CRZO) and Energen (EGN) are upgraded to Overweight from Neutral at J.P. Morgan, which says the small-to-midcap E&P sector delivered a generally positive Q1 from an operational standpoint and “several updates driving NAV accretion.”
JPM likes CRZO as it expects lower completed well costs in the Eagle Ford and thinks the company is well-positioned entering 2017 from an operational standpoint; the firm raises its stock price target to $40 from $35.
EGN enjoys a robust balance sheet, which may be further strengthened by an anticipated $400M in asset sales, the firm says, raising the stock price target to $51 from $43.
JPM likes CRZO as it expects lower completed well costs in the Eagle Ford and thinks the company is well-positioned entering 2017 from an operational standpoint; the firm raises its stock price target to $40 from $35.
EGN enjoys a robust balance sheet, which may be further strengthened by an anticipated $400M in asset sales, the firm says, raising the stock price target to $51 from $43.