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

|About: Carrizo Oil & Gas, Inc. (CRZO)|By:, SA News Editor

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.