Raymond James lowered the firm’s price target on Crescent Energy (CRGY) to $18 from $23 and keeps a Strong Buy rating on the shares. The firm, which is updating estimates post Q4 results and pullback in oil prices, notes that its capex estimates move 11% lower as the company is shifting a rig into their southern Eagle Ford dry gas position. The firm’s production estimates overall remain largely unchanged, the analyst noted, citing “the much lower oil strip since our last publication” for the firm’s lowered price target
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Read More on CRGY:
- Crescent Energy price target lowered to $20 from $21 at Wells Fargo
- Crescent Energy price target lowered to $12 from $18 at JPMorgan
- Crescent Energy price target lowered to $16 from $21 at Siebert Williams
- Crescent Energy’s Strong 2024 Performance and Growth Outlook
- Crescent Energy’s Earnings Call Highlights Growth and Optimism
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