Crescent Energy initiated with an Outperform at William Blair

William Blair initiated coverage of Crescent Energy (CRGY) with an Outperform rating. The firm says the company’s strategy has resulted in a simplified capital structure with diversified assets targeting shareholder return. Crescent has assets with low proved, developed, and producing decline and a solid three-stream presence, allowing for optimal upside depending on commodity prices, the analyst tells investors in a research note.