Raymond James lowered the firm’s price target on Crescent Energy (CRGY) to $14 from $16 and keeps a Strong Buy rating on the shares. Crescent Energy posted another solid quarter, beating Street estimates on both production and oil volumes by ~3% and capital expenditures by ~4%, the analyst tells investors in a research note. The longer inventory life and lower base decline rate should yield premium multiples vs. peers, the firm argues.
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