Seeking Alpha

Carrizo Oil & Gas started with a Buy rating at Sterne Agee

  • Carrizo Oil & Gas (CRZO +1.6%) is initiated with a Buy rating and $50 price target at Sterne Agee, even after the stock's 96% YTD rally.
  • The firm says Eagle Ford downspacing testing and drilling results from the Utica Shale should validate the quality and depth of CRZO's inventory in these plays, and potential bolt-on acquisitions with proceeds from a non-core asset sale should provide further running room to complement core positions in the Eagle Ford Shale and Niobrara.
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