“We are decreasing our price target to $21 from $31.50. We base this target on 300% of YE13E JPM NAV, which is above where the group is trading. The market appears willing to give CRZO a premium multiple, at least over the near term.,” the firm’s analyst commented.
Shares of Carrizo Oil & Gas traded up 3.13% during mid-day trading on Thursday, hitting $22.08. Carrizo Oil & Gas has a 52 week low of $19.04 and a 52 week high of $31.62. The stock’s 50-day moving average is currently $21.45. The company has a market cap of $885.1 million and a P/E ratio of 19.62.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Carrizo Oil & Gas from an underperform rating to a neutral rating in a research note to investors on Monday, February 18th. They now have a $21.80 price target on the stock. Separately, analysts at Capital One upgraded shares of Carrizo Oil & Gas from an add rating to a strong-buy rating in a research note to investors on Tuesday, February 5th. They now have a $31.00 price target on the stock, up previously from $28.00. Finally, analysts at Capital One upgraded shares of Carrizo Oil & Gas to a strong-buy rating in a research note to investors on Tuesday, February 5th.
Six analysts have rated the stock with a buy rating, four have given an overweight rating, seven have assigned a hold rating, and one has assigned a sell rating to the stock. Carrizo Oil & Gas presently has a consensus rating of overweight and an average target price of $29.47.
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