Crescent Energy price target raised to $17 from $16 at Wolfe Research

Wolfe Research analyst John Abbott raised the firm’s price target on Crescent Energy (CRGY) to $17 from $16 and keeps an Outperform rating on the shares as part of a 2025 outlook for the exploration and production refiners. The recent underperformance of the oils goes some way to “discounting” known commodity risk, the analyst tells investors in a research note. Wolfe’s bias continues to favor U.S. gas, but the firm is “incrementally positive” on oil exploration and production names.