Mizuho raised the firm’s price target on Crescent Energy to $19 from $18 and keeps a Buy rating on the shares. The analyst updated oil and gas estimates to reflect the commodity price rebound in Q3. A resurgent commodity price complex – particularly oil and refining cracks – have driven a share rebound as investors focus on OPEC+ cuts, undersupply in global oil markets, and product inventory tightness, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CRGY:
- Crescent Energy 11M share Spot Secondary priced at $12.25
- Crescent Energy announces offering of 10M shares of Class A stock
- Crescent Energy raises FY23 CapEx view to $580M-$630M from $575M-$625M
- Crescent Energy to acquire additional interests in Western Eagle Ford position
- Wall Street’s Best Analyst Recommends 3 Stocks to Buy