Comstock Resources price target raised to $29 from $26 at Clear Street

Clear Street raised the firm’s price target on Comstock Resources (CRK) to $29 from $26 and keeps a Buy rating on the shares. The stock price is up 50% over the last six weeks, notes the analyst, who believes the recent strength could have been caused by a combination of several factors, including Western Haynesville data and upbeat commentary about the potential development there to increase net asset value; natural gas prices being up 12% since late October; and Comstock’s nearly 100% dry gas production and reserves, which can attract some investors seeking a pure play on natural gas exposure.