Analyst Actions: Carrizo Oil & Gas Target Deflated By $4 At Credit Suisse; Maintains Neutral Rating; Shares Slide 3%
Analysts at Credit Suisse have maintained a Neutral rating on Carrizo Oil & Gas. Inc. ( CRZO ), but have lowered the price target on shares of from $26 to $22. The firm also lowered its estimates on the energy company.
"Although CRZO has not presented its revised 2012 capital budget, we now estimate the company spending ~$700MM in 2012," said Credit Suisse, adding that it lowered the target price due to an increase in net debt. "We revise our 2012, 13, 14 EPS estimates by -15%,-13%, -9% to $1.57, $3.84, $5.56 on updated guidance and commentary."
CRZO trades in a 52-week range of $19.03 - $31.62.