Crescent Energy price target raised to $20 from $15 at Truist

Truist analyst Neal Dingmann raised the firm’s price target on Crescent Energy to $20 from $15 and keeps a Buy rating on the shares. The company’s Q2 results highlighted continued well productivity and operational efficiencies that have resulted in being able to notably decrease upcoming capital spend while still maintaining stable production, driving improved free cash flows, the analyst tells investors in a research note. Crescent Energy continues to benefit from its legacy Uinta and Eagle Ford assets along with its recent acquisition of operatorship and incremental working interest in its existing Western Eagle Ford assets, the firm added.